Baltic Oil Terminals has completed the acquisition of a further 25% interest in the company’s main asset ZAO Rosbunker, now owning 50% equity.

Rosbunker’s sole asset is an oil transhipment terminal, handling mazut and diesel, situated in the port of Baltysk, located at the mouth of the Pregol River in the Kaliningrad Oblast.

Baltysk is a deep water port on the Baltic Sea and occupies a highly strategic position, because it is located on the promontory between the Gulf of Gdansk and Vislinskiy Zaliv, the channel of water that leads directly into Kaliningrad.

Krutrade, a wholly owned subsidiary of Kuzbassrazrezugol, the largest Russian exporter of coal, which jointly operates the terminal with Baltic, holds the remaining 50% interest in Rosbunker.

The terminal commenced operations in June 2007 and is fully operational. New insulated tanks, a new twin line railway spur, pumping and handling equipment were commissioned in December 2007.

Second and third phases of construction are planned to increase the capacity of the terminal and also allow the berthing of tankers up to 40,000 DWT, making Rosbunker the only deep water terminal in the Kaliningrad region.