LUKOIL SELLS ROTTERDAM
LITASCO SA, the exclusive international marketing and trading company of OAO LUKOIL, together with its Joint Venture partner Burando Maritime Services, a leading maritime services provider in the Amsterdam-Rotterdam-Antwerp region have entered into an agreement to sell 100% of their respective shares of Service Terminal Rotterdam v.o.f. (“STR”) to iCON Infrastructure Partners II, L.P.. The transaction was entered into following two months of exclusive discussions and is expected to close at the end of April 2015.
STR is a modern, purpose built bunker fuel terminal strategically located in the Port of Rotterdam (Netherlands) with 242,000m3 storage capacity across two tank farms and a total quay length of 450 meters. The project was implemented by a joint venture (50/50) established in 2003 between LITASCO and the Dutch company Burando Maritime Services.
In line with the agreement and its development strategy, LITASCO will remain the primary user of STR under a long-term exclusive contract.
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