A consortium of companies, mainly with American capital wants to lease land in Constanta, for the construction of an oil terminal, as said Randy Tharp, Managing Director Romania “Epstein” at a conference in New York.

“Our consortium (No. consists mainly of four companies) will make a private investment, which will depend on a concession from the government for land within the harbour. Of course we compete for this concession, but we did our homework in the preliminary engineering of the project, due to the involvement in the project of Master Oil Chem, ” said Randy Tharp, quoted by Bursa.

The project is worth approximately 350 million dollars.

“We will seek funding also, not all the investment will be through capital,” said the Epstein representative, adding “by involving American investors, we hope that over 51% of the investment will be from US funds. Then, we hope to address OPEC and other organizations for funding “.

In addition, the company has applied for funding through European funds, through its subsidiary in Romania for 50 million euros. Tharp hopes that the Government will approve the concession land in the Constanta harbour soon, especially since the tender package is ready for a while.

“Things moved slowly in the government,” he said, adding: “We hope there will be improvements. I talked to a number of ministries – Transport, Energy – to encourage the project. We seek support to the American Embassy as well.”

According to the Epstein representative, after obtaining the concession, the terminal will be used in part after a year and a half, but its completion will take about three years. Randy Tharp said that the terminal already has customers, so as to be used in 60% right from the outset.