ISR Trans acquires fuel oil terminal of KurganNefteProdukt for RUB 1.6bn
ISR Trans Ltd. was the winning bidder in an auction held by the Auction House of the Russian Federation (AHRF) for the sale of 100% shares in the share capital of the Fuel Oil Terminal Company of LLC Kurgannefteprodukt in Taganrog, the AHRF said in a press release.
The auction was carried out on behalf of Sberbank of Russia. Selling value – RUB 1.6 billion (some $47.9 million). This is the first experience in selling assets to recover debt on credit line to Sberbank (RUB 1,625,592,000 as of Jul. 1st) including interest.
KurganNefteProdukt LLC through its wholly-owned subsidiary LLC TMT, owns and operates assets in the complex of modern fuel oil terminal. The terminal is located in Taganrog, Rostov region. The terminal’s annual capacity is 2 million tonnes of oil a year. The company is engaged in cargo handling, in wholesale of fuels, grain, feed, agricultural raw products, etc. The company specializes primarily in handling of M-100 fuel oil. The company is in partnership with businesses in Russia, Canada and the British Virgin Islands.
ISR Trans Ltd. was created in 1997. The company specializes in freight forwarding services for oil cargo by rail on 10 of 17 railways of Russia and rail traffic of in the CIS and Baltic states. Annual volume of oil product transportation exceeds 18 million tonnes. The ISR Trans’ rail car fleet comprises more than 22,500 tank cars, including the company’s own 10,000 tank cars for oil and 1,500 tank cars for LPG. In addition, the company operates more than 10,000 cars for transport of oil cargoes and 1,000 gondola cars. The company has offices in St. Petersburg, Nizhny Novgorod, Krasnodar, Ufa, Orsk, Saratov and Geneva.
