Baltic Oil Terminals (BOT), a British company has entered into a non-binding memorandum of understanding with a Swedish company Alpcot Agro AB (Alpcot Agro) and its investment adviser Alpcot Capital Management (Alpcot Capital) to expand its operations at the port of Baltysk in Kaliningrad, Russia, the Baltic Oil Terminals statement said.
The Memorandum sets out the terms under which Baltic, Alpcot Agro and Alpcot. Capital will form a joint venture. Under the Memorandum, Alpcot Capital, with its 11% stake in BOT, will be responsible for securing the necessary financing to build the terminal, which will be located adjacent to Baltysk's existing RosBunker terminal. Alpcot Capital will also seek additional partners to develop the terminal.
Baltic will provide its considerable operational expertise, by sourcing suitable terminal equipment and related infrastructure using its long established relationships in the region. Baltic will also provide advice and support on all logistical aspects of the terminal's development and will assume its day to day operation.
Alpcot Agro has recently acquired a 95.2% stake in BBAH Sweden AB, a company with interests in several farms in Kaliningrad. Baltic and Alpcot Agro have now identified a significant trading opportunity through supplying overseas buyers with grains and other crops produced in Kaliningrad.
Baltic owns and operates terminals in the strategically vital Russian port of Baltysk, Kaliningrad on the Baltic Sea and through its subsidiaries is engaged in matched refined oil product trading.
The Memorandum sets out the terms under which Baltic, Alpcot Agro and Alpcot. Capital will form a joint venture. Under the Memorandum, Alpcot Capital, with its 11% stake in BOT, will be responsible for securing the necessary financing to build the terminal, which will be located adjacent to Baltysk's existing RosBunker terminal. Alpcot Capital will also seek additional partners to develop the terminal.
Baltic will provide its considerable operational expertise, by sourcing suitable terminal equipment and related infrastructure using its long established relationships in the region. Baltic will also provide advice and support on all logistical aspects of the terminal's development and will assume its day to day operation.
Alpcot Agro has recently acquired a 95.2% stake in BBAH Sweden AB, a company with interests in several farms in Kaliningrad. Baltic and Alpcot Agro have now identified a significant trading opportunity through supplying overseas buyers with grains and other crops produced in Kaliningrad.
Baltic owns and operates terminals in the strategically vital Russian port of Baltysk, Kaliningrad on the Baltic Sea and through its subsidiaries is engaged in matched refined oil product trading.