Croatia: EBRD loan for new oil terminal Ploce port

, SEE Energy News

The European Bank for Reconstruction and Development (EBRD) has approved a loan of 9.6 MEUR for the development of a new terminal for liquid cargo in “Luka Ploce”, it was announced from EBRD.

Total investment in the construction of the terminal for liquid cargo amounted to 16.7 MEUR, and it is expected that the works will be finished by the end of June 2016th.

The new terminal will increase the existing capacity for liquid cargo storage from 35,000 to a total of 85,000 cubic meters, to meet the growing demand for storage space, especially demand for the oil companies, said in the statement.

The recipient of EBRD loan is “Luka Ploce Trgovina”, a subsidiary owned by “Luka Ploce”.

Agreement between EBRD and “Luka Ploce” was signed in Tbilisi, where is held the Annual Meeting of EBRD.

In the statement is also cited the first EBRD vice-president Phil Bennett that the aim of this investment is strengthening of “Luka Ploce”. “For EBRD, the development of Croatian infrastructure is a priority, so we are proud to provide support to this extremely promising private company”, he said.

President of the Management Board of “Luka Ploce” Ivan Pavlovic says that the project will significantly improve the competitiveness of the local economy and encourage economic growth in the region, particularly in Bosnia and Herzegovina.