Rubis sells Turkish terminal to Transpet

Rubis Terminal Infra has completed the sale of its 650,000 m3 Rubis Terminal Petrol in Istanbul, Turkey, to Turkish energy group Transpet Petrolcülük ve Enerji.

The terminal is dedicated to petroleum products and has a 2.3 km long jetty. Its position means that it can provide critical import and export infrastructure for Iraqi oil, and can take advantage of the eastern Mediterranean region’s increasing importance as a trading hub. Transpet is now the sole shareholder.

Bruno Hayem, CEO of Rubis Terminal says that the sale is in line with the company’s strategy to focus on Western Europe, reduce the volatility of its earnings, and strengthen its portfolio mix towards chemicals, biofuels, and other non-fuel products.

‘With this acquisition, we are adding a new growth area to our portfolio. We will enrich our activities with this strategically positioned terminal. We aim to appeal to the greater Mediterranean region and will continue to improve our services for the benefit of our stakeholders, ensuring top-notch operational support both to our existent and future business partners. We will further develop Rubis Terminal Petrol using our expertise in the sector and bringing added value to our clients, Turkey and the greater region,’ says Mehmet Ali İslamoğlu, board member of Transpet

(Source: Tank Storage Magazine)

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