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BFC Group given the green light for land reclamation at St Petersburg port
THE Baltic Fuel Company Group (BFC) has received approval and permits from the St Petersburg City Administration to reclaim 1.43 hectares of land to expand the Turukhtannye Islands Oil Terminal.
The terminal currently covers an area of 7.3 hectares including two berths for handling oil products with annual throughput of 500,000 tonnes of products, based on the group's 2013 year-end figure.
The BFC Group's investment programme includes the overhaul and modernisation of the terminal, which will help to increase substantially the facility's capacity.
The expansion plan will reportedly enable the terminal to handle 1.7 million tonnes of products in 2015-2016. As from 2017 the facility is expected to transship 2.4 million tonnes a year, and from 2020 - up to 4-5 million tonnes of oil products, according to St Petersburg PortNews.
The US$110 million project also includes building a third berth to increase the tank farm storage capacity to 42,000 tonnes.
The terminal currently covers an area of 7.3 hectares including two berths for handling oil products with annual throughput of 500,000 tonnes of products, based on the group's 2013 year-end figure.
The BFC Group's investment programme includes the overhaul and modernisation of the terminal, which will help to increase substantially the facility's capacity.
The expansion plan will reportedly enable the terminal to handle 1.7 million tonnes of products in 2015-2016. As from 2017 the facility is expected to transship 2.4 million tonnes a year, and from 2020 - up to 4-5 million tonnes of oil products, according to St Petersburg PortNews.
The US$110 million project also includes building a third berth to increase the tank farm storage capacity to 42,000 tonnes.
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