March 27 (SeeNews) - Romanian fuel distribution company JT Grup Oil said on Wednesday it has completed the first phase of the JT Terminal project, the first private oil terminal in Romania in the last 50 years, worth 25 million euro ($27 million).
Situated in the North Constanta Port area, the terminal boasts eight tanks with a collective storage capacity of 31,500 tonnes, the company said in a press release.
The project is partially funded by non-reimbursable European funds.
Once fully operational, the terminal it will be able to increase the quantity of imported fuels and the storage and distribution capacity of fuels, covering up to 1 million tonnes per year from the annual deficit of 2.5 million tonnes.
"We are pleased to see that, now, close to the completion of construction, the market signals regarding JT Terminal are positive. And this is confirmed by the interest of our partners from Bulgaria, Ukraine or Hungary who are requesting already storage and loading-unloading capacities at the terminal," said Bogdan Aldea, general director of JT Grup Oil.
Established in 2001, JT Grup Oil is active in the fuel distribution sector, primarily operating in the southeast region of Romania. The company manages its own fleet of 11 tankers, each with a capacity of up to 40,000 litres and equipped with pumps and measuring indicators for accurate delivery.
($=0.923060 euro)