August 23, 2022 [ The Diplomat ] – Oil Terminal started the construction of a 55,000 m3 capacity tank having as objective the increase of the storage capacity in the south storage area (located outside the city of Constanta) in order to transfer to it the existing capacities in north storage area (located within the municipality of Constanta).

The land in the surface of 38 ha located in the North Storage area, building A and building B, provides multiple access facilities to the public road and railway infrastructure, being located in the city near Constanta railway station as well as to the infrastructure of public utilities such as the connection to water, sewage, electricity and gas

Possible development directions in this area would be:

• investments in the residential sector: the construction of housing development, including green homes by integrating innovative technologies for green energy production from renewable resources (solar energy);

• investments in the public – private sector through the construction of hotels, office spaces for the private sector as well as for the public sector, retail and logistics spaces, integrated solutions for real estates composed of office spaces, commercial spaces and condominium-type homes, conference rooms, grassroots and performance sports halls, recreational spaces, green spaces, parking lots.

• investments in the sector of electricity production from renewable sources: – the construction of a photovoltaic park.

“The implementation of such projects will lead to the profitability of the land and constant incomes, in the medium and long term, which will ensure the development of other activities related to the main object of the company’s activity, therefore Oil Terminal can diversify its services and contribute to the increase of the coverage degree for the needs of the local and regional community, in a sustainable and responsible way. At the same time, the environmental obligations regarding this land will be fulfilled, the quality of life of the population will be improved and new jobs will be provided with a strong economic impact on both the local and the national budget through direct and indirect taxes and fees to be paid,” a company release shows.

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