The head of EBRD’s Russian Far East Department and Transit-DV Company has reached a preliminary agreement over a credit line from the European Bank for Reconstruction and Development for financing a Vostokbunker Terminal modernization project (Primorye Region, part of the Group Transit-DV), the Transit-DV (Far East) statement said. The details of deal have not been disclosed.
Transit DV Group is to submit to the bank documents including financial statements for the past two years, executed by the standards of IFRS, as well as the business plan of the investment project, the TDV press service said.
The Group is currently negotiating with Moore Stephens auditor, the EBRD’s accredited company to align the financial statements in line with IFRS standards for the past periods of Trade House Tranzit DV, North-East Shipping Company, the oil terminal VostokBunker, the Holding companies.
VostokBunker CJSC owns the third largest marine oil export terminal in Primorsky Krai (Territory). The Terminal handles annually about 40% of liquid fuels shipped to the northern regions of the Far East under the Russian Govt. order. VostokBunker supplies contracted fuels for Magadan and Kamchatka region. VostokBunker produces its own VB brand marine fuel, as well as F-5 bunker fuel. VB Terminal provides bunkering services for Russian and foreign ships at the ports of Russia and Asia-Pacific countries, as well as for the expeditions in the seas of Okhotsk and Bering.
Transit DV Group is to submit to the bank documents including financial statements for the past two years, executed by the standards of IFRS, as well as the business plan of the investment project, the TDV press service said.
The Group is currently negotiating with Moore Stephens auditor, the EBRD’s accredited company to align the financial statements in line with IFRS standards for the past periods of Trade House Tranzit DV, North-East Shipping Company, the oil terminal VostokBunker, the Holding companies.
VostokBunker CJSC owns the third largest marine oil export terminal in Primorsky Krai (Territory). The Terminal handles annually about 40% of liquid fuels shipped to the northern regions of the Far East under the Russian Govt. order. VostokBunker supplies contracted fuels for Magadan and Kamchatka region. VostokBunker produces its own VB brand marine fuel, as well as F-5 bunker fuel. VB Terminal provides bunkering services for Russian and foreign ships at the ports of Russia and Asia-Pacific countries, as well as for the expeditions in the seas of Okhotsk and Bering.