Romanian businessman of Syrian origin Nawaf Salameh, the owner of Alexandrion Group – the biggest spirits producer in Romania, has acquired the Octogon Gas & Logistics Terminal in the Port of Constanta. Developed in 2010 by the Romanian Idu family, the terminal represents a gateway for LPG imports through the Port of Constanta.

“Nawaf Salameh Family Office has acquired the Octogon Gas & Logistics Terminal in the Port of Constanța, an acquisition that underlines the Office’s commitment to diversified investments including energy initiatives, with far-reaching implications for Romania's energy and indeed national security and for strengthening strategic relations between Romania and the United States commercially and in other realms,” Nawaf Salameh wrote in a LinkedIn post.

“This is more than just a strategic investment in the energy sector. It is a testament to our commitment to advancing Romania's energy security and sustainability goals. By integrating the Octogon Gas & Logistics Terminal into our portfolio alongside our green energy projects, we are laying the foundation for an energy infrastructure that is more multifaceted, and therefore more sustainable and secure, as well as more environmentally responsible,” he added.

According to Salameh, the Octogon Gas & Logistics Terminal is a critical component of Romania's energy infrastructure, and the Romanian government also approved the transaction. MPR Partners led by Dana Radulescu and Gelu Maravela were the legal advisors for the Nawaf Salameh Family Office in this transaction.

Nawaf Salameh didn’t provide any financial details about this deal. The Octogon Gas & Logistics Terminal was developed in 2010 with a EUR 15 million investment, of which EUR 10 million represented a loan from Banca Transilvania. The terminal covers an area of 2.39 hectares and has a storage capacity of 4,000 cubic meters of liquified gas.

In 2023, the company Octogon Gas & Logistics SRL had a turnover of EUR 2.6 million and losses of EUR 448,000, according to public data. The company also had negative equity as the value of its debts (EUR 13 million) was higher than the book value of its assets, according to public data.

The Idu family also owns Comvex Constanta, one of the biggest terminals for bulk commodities in the Port of Constanta.

editor@romania-insider.com

(Photo source: Nawaf Salameh on LinkedIn)