SOCAR to start construction of dry cargo and LPG terminal in 2008

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

18 Mar 2008

Georgian Government has approved the launch of oil terminal in Kulevi (the country's Black Sea coast) RusEnergy quotes the General Director of SOCAR Energy Georgia Makhir Mamedov. ''There are only several documentary issues and the borders of the port should be defined,'' he said. According to Mammadov, this year it is planned to commence the construction of terminal in the Kulevi terminal which belongs to SOCAR for transportation of dry cargo and LPG. ''SOCAR has adopted a package of ecological actions on the terminal,'' Mammadov said. SOCAR owns the Kulevi terminal. The company received a large syndicated credit for its construction. The gross amount of the credit, which was established by a consortium of 15 foreign banks headed by Societe Generale, totalled $301mln. The loan is expected to be paid back by 2009. At present, the capacity of the terminal equals 9mln tons (2mln tons of crude oil, 3mln tons of diesel fuel and 4mln tons of black oil). The capacity of the reserve tank of the terminal is 320,000 cu m. There are plans to increase the capacity of the terminal up to 20mln tons and the reserve capacity up to 380,000 cu m.