Gunvor secures financing for Rotterdam refinery upgrade
8/17/2016 11:15:07 AM
Gunvor Group Ltd.’s subsidiary, Gunvor Petroleum Rotterdam BV, secured $200 M in financing for the development and infrastructural upgrade of its facilities. The upgraded Rotterdam refinery will complement Gunvor Group’s existing refining operations, particularly through integration with its existing European refinery network, which includes refineries in Antwerp, Belgium and Ingolstadt, Germany.
The facility launched at $200 M, and as a result of strong support was oversubscribed by almost 40%. The refinery typically produces LPG, naphtha and gasoline, and operates at a capacity of 88 Mbpd.
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