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Gunvor Petroleum Secures Financing for Rotterdam Refinery Upgrade Project

Gunvor Group, August 17, 2016

Gunvor Group Ltd has announced that its subsidiary, Gunvor Petroleum Rotterdam BV, has secured $200 million (USD) in financing for the development and infrastructural upgrade of its facilities, including the 88,000 bpd Rotterdam Refinery. 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 million, and as a result of strong support, was oversubscribed by almost 40 percent.

We are pleased that this financing is secured as this will enable us to execute the improvement plans we have developed for the coming years to become even more of a valued asset to the Gunvor organization,” said Erwin Goosen, GPR Refinery Manager.

 


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