OKKO Planning to Invest $3M in Kherson Oil Terminal

5 Фев

The OKKO Group intends to assign up to $3M in the oil transhipment complex in Kherson Port (KOT) purchased in January 2021, as reported by the Group’s Press Office.

OKKO figures that the complex acquired is going to help creating a mighty logistic base for more efficient and mobile fuel supply of its filling stations in the South and East of Ukraine. Besides, OKKO makes a crucial step to diversifying its fuel delivery sources.

“Having gained the port capacities of our own, we gain the direct access to Mediterranean oil products market as well. And in a favourable market environment we could grow imports of fuels from Greece, Bulgaria, Turkey, Turkmenistan et alii into Ukraine. it is about 150-200,000 t a year”, noted OKKO Vice President Yuriy Kuchabsky.

The oil complex of Kherson Port consists of the oil harbour providing the tankers discharge and storage of oil products as well as the petroleum depot having a link to the railway infrastructure. The oil harbour’s tank battery embraces 13 working reservoirs capable of 38,850 m3. The complex has accesses to three berths. The terminal also operates automatic pumping capable of about 1,000 m3 per 4 hrs.

OKKO Planning to Invest $3M in Kherson Oil Terminal

As per the company’s evaluations, it is necessary to provide a capital repair of the reservoirs at the asset including replacement of fire water isolation and pressure vent valves, to install the firefighting equipment and gas-aligning system as well as replace the auto pumping station with the modern automated equipment. Such upgrading would enable the oil handling complex operations safe and efficient in accordance with international standards.

In the summer of 2020 there were two credit lines granted for OKKO – $35M each by European Bank for Reconstruction and Development (EBRD), and International Financial Corporation (IFC). Some of those funds are planned by the company to be assigned on the reconstruction of oil terminal in Kherson.

As per the Ukrainian sea ports register of USPA (Ukrainian Sea Ports Authority), the oil complex operates Berths 1 to 4 and corresponding hydraulic structures of Kherson Sea Trade Port.