Published: October 17, 2012
Port project in Rotterdam will create a new hub for Russian crude oil.
One of the largest project financings for an oil terminal is underway, guided by the team at ING Bank.
Earlier this month Shtandart, a joint venture between infrastructure companies Summa Group and VTTI, appointed ING as financial adviser for its Tank Terminal Europoort West project in the Port of Rotterdam.
This US$1bn project aims to create a new trading hub for Russian crude oil and offer state-of-the-art logistics services to Russian oil exporters and traders and buyers of Russian oil.
Construction of the project will start next year, with the terminal expected to be operating from early 2016. The project financing will be raised next year.