“Vopak E.O.S. can now go ahead with an envisaged EUR 25m investment at Termoil terminal which will improve the overall competitiveness of the Estonian logistics sector. In order to be a front runner in the very competitive international market, investments in upgrading infrastructure are required to further raise efficiency in handling our customers’ cargo flows”, said Arnout Lugtmeijer, CEO of Vopak E.O.S.

“The negotiations were long lasting and challenging but all parties concerned understood that reaching an agreement was the best solution given the ongoing disputes between the parties, with no immediate end in sight. The terms of the deal did not exactly correspond to our initial expectations, but most importantly the outcome is positive and we all can get on with constructive and tangible matters”, Lugtmeijer added.