OKKO acquired the Kherson oil transshipment complex

In January 2021, OKKO acquired the Kherson oil transshipment complex. The acquisition of the complex will help the company to solve two important issues: the creation of a strong logistics base for a more efficient and mobile, from a logistical point of view, the provision of fuel for filling stations in the south and east of Ukraine. Also, OKKO is taking a major step towards diversifying fuel sources.

"We get direct access to the Mediterranean market for petroleum products after we have received our own port facilities. And under favorable conditions, we can increase the volume of fuel imports to Ukraine from Greece, Bulgaria, Turkey, Turkmenistan and other countries. We are talking about 150-200 thousand tons per year "- comments Yurii Kuchabskyi, Vice President of OKKO.

The Kherson oil transshipment complex consists of an oil harbor, where tankers are unloaded and oil products are stored, as well as an oil depot that has access to the railway infrastructure. The facilities are connected by an oil pipeline.

“According to preliminary estimates of our experts, the amount of investment in the modernization of the complex may be up to 3 million USD "- adds Yurii Kuchabskyi.

According to the company, first of all, the tanks need to be overhauled at the site with the replacement of shut-off and breathing valves; install fire-fighting equipment, gas leveling system; replace the filling station with modern automated equipment.

Modernization will make the operation of the oil transshipment complex safer and more efficient and bring it in line with international standards. As previously reported, in the summer of 2020, 2 credit lines of USD 35 million each were opened for OKKO by the European Bank for Reconstruction and Development and the International Finance Corporation. The company plans to spend part of these funds on the reconstruction of the oil transshipment in Kherson. The implementation of this project will also help create new jobs in the region and increase tax revenues to the local budget.