August, 2021 [PortNews] – Total investments into the modernization project under the investment agreement with the city of Saint-Petersburg exceed RUB 5 billion
On 3 August 2021, Petersburg Oil Terminal (POT) obtained a permit for construction of its new handling facility in the territory of the old tank farm. According to POT, it is to commence disassembling works in the near future.
State Construction Supervision and Expertise Department of Saint-Petersburg Government has issued a document allowing POT to build a new facility for handling of oil products. It will replace a so called ‘old tank farm’ built in Soviet times. The permit covers a period till 30 July 2026.
The old part occupies about 11 hectares of POT territory within Big Port St. Petersburg. Under the project, a modern complex for handling a wide range of oil products will be built there. The complex will include modern tanks for oil products, a loading facility, wasteheat exchangers and steam traps. To enhance environment safety, all tanks will have double walls thus eliminating a risk of oil spills.
Following the obtaining of the permit for construction, the company will commence disassembling of the old tanks built in 1960s. In the fourth quarter of 2021, it will embark on construction of the new tank farm. For that purpose, POT has already signed a contract with RM Rail on supply of metal structures with the first batch expected in October.
Total investments into the modernization project under the investment agreement with the city of Saint-Petersburg exceed RUB 5 billion.
“We believe in the reconstruction project and officially kick off its implementation. It is a landmark construction project for the terminal and a strategically important investment project for the city. Its implementation will let us expand the range of oil products we deal with and allow for a more flexible policy which is essential in the volatile oil market. At the same time, we are set to implement the project with an opportunity to adjust it promptly amid the dynamic environment”, comments Mikhail Skigin, Chairman of Petersburg Oil Terminal BoD.
According to him, the project will let generate new technologically intensive jobs in Saint-Petersburg, increase the city budget revenues and enhance environmental safety of the port.
The project is being implemented under an agreement on strategic investment projects signed by Saint-Petersburg Government and Petersburg Oil Terminal in March 2021. The terminal was given a status of a strategic investor into the city economy and the project obtained a status of a strategic investment project of Saint-Petersburg. Having commenced the terminal modernization the company confirms its readiness to fulfil its investment obligations under the signed agreements.
“It foresees modernization of the terminal for handling and storage of oil products, re-equipment of the terminal and introduction of advanced technologies on reduction of emissions. The strategic status of the project and the investor contributes to the efficiency of the project”, Roman Golovanov, Chairman of the Investment Committee, told in February.
Petersburg Oil Terminal is one of Russia’s terminals for transshipment of oil products in the Baltic Region. It is an advanced transshipment facility and one of the largest stevedoring companies of Big Port St. Petersburg. POT offers a hi-tech acceptance of oil products delivered by railway, river and road transport as well as shipment of oil products by road transport, sea-going ships and bunkering vessels. The terminal established in 1995 covers the area of 37 hectares and numbers 37 tanks for light and dark oil products. Its annual capacity is 10 million tonnes. In 2020, POT shipped over 9.2 million tonnes of oil products.
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