An oil refinery in the port of Rotterdam. Photo ANP / Robin Lonkhuijsen
The big Russian oil terminal in the Port of Rotterdam would come from the job. The Port Authority has announced this morning. The Russians could not get the financing for the project, says the Port Authority. This could partly be due to the increased tensions between Russia and the European Union.
Great Russian oil companies would refuse to give guarantees on oil supplies to the terminal in Rotterdam. The lost revenue from the Port of Rotterdam add up to more than 700 million euros.
The contract for the prestigious project was closed in 2011 by Prime Minister Rutte and the then President of Russia Medvedev. Investment Summa would through its Dutch subsidiary Shtandart a terminal building where 3 million cubic meters of crude oil could be stored in Russia.
The construction of the terminal was a lot of money involved. The Russians were 6 million annually to pay lease money for land. In addition, the terminal would generate annually 22 million in dues.
The parties entered into a contract with a minimum term of 28.5 years. The Port of Rotterdam this is EUR 700 million in lost revenues. By contrast, the need to invest than 200 million euros in the construction of port facilities. According to the spokesman for the Port Authority suffers no loss, because the land (58 acres) can be used again for another project
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- oil terminal
- Rotterdam port
- Russia
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