Romanian Oil Terminal Takes RON8M Loan From Raiffeisen Bank

03.31.2011 By Andrei Circhelan

Romanian state-owned oil services company Oil Terminal Constanta (OIL.RO) on Tuesday took a six-year loan worth 8 million lei (EUR1=RON4.0984) from Raiffeisen Bank, to finance the construction of an oil tank.

Romanian state-owned oil services company Oil Terminal Constanta (OIL.RO) on Tuesday took a six-year loan worth 8 million lei (EUR1=RON4.0984) from Raiffeisen Bank, to finance the construction of an oil tank.

The tank will have a 10,000 cubic meter capacity, according to an Oil Terminal report sent Thursday to the Bucharest bourse.

Oil Terminal is 59.62% owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) holds a 10% stake.