Bucharest Exchange-listed Oil Terminal announced it signed a partnership contract with Swiss group Euronova Energies SA to develop a bitumen terminal in Constanta port.

The partnership agreement states that Oil Terminal will be the owner and operator of the constructed bitumen terminal, and Euronova Energies will be the exclusive user of the bitumen terminal under an exclusive right of use. 

The future construction will be used by Euronova Energies for a period of 10 years, for a guaranteed turnover of 80,000 tons/year, based on a service contract that will be concluded on the date of signing the works contract for the construction of the terminal.

Euronova Energies will fully bear the costs of the investment representing the expenses for the construction works of the terminal, granted in the form of advances from future services.

Euronova Energies will recoup its investment by applying a 15% commission to the invoices issued by Oil Terminal to the bitumen terminal's customers. 

The Oil Terminal partner is part of the Euronova Holding SA group from Switzerland.

Romania's current internal production of bitumen covers only 20% of what is needed.

iulian@romania-insider.com

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