Port of Ploče to Host One of Largest Private Investments in Croatia

The port of Ploče will become one of major oil terminals in this part of Europe.

Energia Naturalis (ENNA), a regional energy company in the private Croatian ownership, and VTTI, one of the largest operators and owners of terminals for storage of petroleum products in the world, signed an agreement on joint investment in the development of a terminal for storage and handling of petroleum products in the Port of Ploče, reports Večernji List on November 1, 2016.

This is one of the largest private investments in Croatia, whose planned value is around 135 million euros. The first phase of the project has been completed by ENNA which invested 170 million kuna in the past year and a half.

The distribution of petroleum products through the terminal in Ploče will mitigate the constraints which exist with regards to infrastructure for the distribution of petroleum products and liquefied petroleum gas (LPG) for the entire region and will significantly contribute to the energy independence of Croatia. After completion of the project, the new terminal will allow cheaper and safer import of petroleum products and LPG by sea and distribution of petroleum products to many markets of Southeast Europe.

The arrival of companies such as VTTI in Croatia is a clear sign to the world's largest investors that they can find serious partners in Croatia and launch major projects. The construction of a modern port will drive the development of the wider area, and will use new employment and new projects to influence its future development.

The first phase was completed in September 2016 with the construction of 50,000 cubic metres of storage capacity. The second phase will provide 200,000 cubic metres of additional storage capacity for oil, and 60,000 cubic metres for storage of liquefied petroleum gas. This is the largest new project for the storage of liquefied petroleum gas in this part of Europe. In the future, additional space will enable the third phase of the project, which will provide additional storage capacity for at least 100,000 cubic metres of petroleum products.

This terminal will play an increasingly important strategic role in strengthening the security of energy supply in the region. The terminal will meet the highest safety standards and use technologies for processing of hydrocarbon vapours which are in line with the latest global and European regulations in the field of safety and environmental protection.

Source: Total Croatia News