The Romanian-Kazakh Energy Investment Fund inaugurated in Timis county a new fuel station, an investment of approximately 1.3 million USD ensuring the creation of 16 new jobs. Recently, the fund opened another unit in Targu Mures locality.
The new station is located at Ghiroda, an important road junction for the traffic in the area – the connection to the Timisoara airport and ring road, highway A1, as well as to the European road E70 to Lugoj.
“Established at the end of October last year, in February, the Investment Fund approved two major projects – the construction of a co-generation plant on Petromidia platform and the development of a fuel station network, locally. By sustained effort from the two shareholders of the Fund (Societatea de Administrare a Participaţiilor în Energie and KMG International) we managed to reach and currently operate a number of 20 fuel stations, and by the end of the year, we planned to complete other 6 stations and start the works for other 4 units.” Says Iskander Abdibaitov, the general manager of the Romanian-Kazakh Energy Investment Fund
This respects the quality, environment and architecture standards of the Rompetrol fuel stations, being equipped with 2 multi-product pumps with a modern vapour recovery system, a quick pump, AdBlue additive delivery device – meant to reducing and neutralizing the nitrogen oxide emissions in the exhaust gas, and a vehicle liquefied petroleum gas supply skid.
The Fund, currently, via the investment driver (SPV) - KMG Rompetrol Development SRL owns 20 fuel stations operated under Rompetrol brand and where exclusively the vehicle fuels produced by Petromidia Navodari refinery are sold. This is part of Rompetrol Rafinare – that also operates Vega Ploiesti refinery and the petrochemistry division – the sole domestic producer of polymers, being owned mainly by KMG International (54.63% - directly and indirectly) and the Romanian Government, by the Ministry of Energy (44.7%).
The jobs created by the 20 fuel stations amount to 320, and among the facilities offered by them, we count the vehicle liquefied petroleum gas skid (5 units), AdBlue delivery device (7 units), electric charging points – service offered free of charge (6 units) and a car wash unit.
Until the end of this year, the Fund will complete other 6new stations in Cluj and Bucharest, the allocated investment level rising up to 8.3 million USD.
The Romanian-Kazakh Energy Investment Fund planned for the coming 5 years to attain a 84-station network in Romania (purchasing and revamping the existing stations, building new stations), that would lead to over 1,000 new jobs, over 5,000 individual involved in various development stages (design, execution, construction) and over 1,200 commercial partners.
Another investment project aimed at by the Fund is building a new cogeneration plant at Midia by the investment driver (SPV) - Rompetrol Energy SA, where they would be the main shareholder together with KMG International, Rominserv and Uzina Termoelectrică Midia.
“The construction of the cogeneration plant is an important project, not only to Navodari locality, but for Petromidia platform too, as well as for the domestic energetic sector by stabilizing the production and distribution of electric energy in Dobrogea region. The interest for the new unit is reflected also by the 17 national and international companies to have showed their interest in becoming suppliers for equipment and technical solutions. At the end of October, the deadline for submitting the technical and financial offers expired, and we hope that in the coming period to complete the selection process for a contractor for the EPC part (Engineering, Procurement and Construction)” added Iskander Abdibaitov.
With 4-year implementation period, the cogeneration plant (combined production of electric and thermal energy) shall respect the highest technological standards on energetic efficiency and environment protection. This shall ensure the heat carrier and household hot running water for the inhabitants of Năvodari town, and for Petromidia platform – the electric energy and technological steam to support the activities of obtaining oil products.
With 7-year duration, the Romanian-Kazakh Energy Investment Fund has an investment level estimated at approximately 1 billion USD and aims at developing local energetic projects. In February, the Board of Directors approved in principle the main investments of the Fund for the coming period – attracting/allocating approximately 230 million USD for the construction of a cogeneration plant on Petromidia platform and the development of local fuel station network.
The main priority of the fund aims at developing energetic projects, contributing thus, positively to the energetic sector in Romania, as well as to consolidating the country energetic security by diversifying the oil supply sources and at consolidating a favourable investment climate in Romania.