Croatia's Luka Split plans to build 200 mln kuna (26.7 mln euro) oil terminal - report

Croatian Adriatic port operator Luka Split plans to build a 200 million kuna ($31.5 million/26.7 million euro) oil terminal to receive tankers and transport the oil inland by road and rail, local media reported on Wednesday.

"It is an infrastructure project of strategic importance, with the investment in highly profitable long-term assets with a low-risk profile to be of great significance for the local and entire Croatian community, as well as for Luka Split itself, in terms of new business opportunities and expansion of the current business scope, opening of high-quality jobs and creating additional stable sources of revenue," news daily Slobodna Dalmacija quoted Luka Split director Jerko Bacic as saying.

At present, the project is in the stage of drafting preliminary plans and making estimates of the expected revenue, profit and risk, Bacic added.

According to Bacic, the construction of an oil terminal typically takes around two years to complete after obtaining all necessary permits.

The planned terminal will have four tanks with a combined capacity of 56,000 cubic metres, and will be the sixth such facility on Croatia's Adriatic coast.

(1 euro = 7.48668 kuna)

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