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In the five months of 2012 VNT has transhipped 21% more than a year ago

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In the five months of 2012 VNT has transhipped 21% more than a year ago

june 14, 2012 / Ventspils nafta termināls

In the first five months of this year, “Ventspils nafta termināls” (VNT) has considerably increased volumes of the transhipped petroleum products. 6.24 million tons have been transhipped, which is 21.5% more than in the same period a year ago (5.13 million tons).

General Director of VNT Lars Pantzlaff emphasizes that the terminal’s positive effect on the economy of Latvia cannot be measured only by the increase in volumes of transhipped petroleum products: “VNT provides work for 310 employees. We as an infrastructure company in essence indirectly support the business of many other companies as well, including transport of cargos by railway. At present VNT is the largest taxpayer in Ventspils – in 2011 we have paid 3.6 million lats to the budget, but in the last five years together – 13.5 million lats”.

In the last five years, 16 million lats were invested into the company’s development, and this year it is planned to invest 6 million lats more in order to ensure modernisation of the company.

 

About „Ventspils nafta termināls”

VNT provides transit services – receipt, storage and loading of crude oil and petroleum products via pipelines, rail tank-cars and tankers. VNT is technologically the most advanced and largest crude oil and petroleum product transhipment company in the Baltics with the total tank storage capacity of 1.2 million cubic meters.

51% of VNT is owned by JSC “Ventspils nafta”(NASDAQ OMX RIGA: VNF1R), which is one of the largest groups of companies in Latvia and operates in the sector of transit business. JSC “Ventspils nafta” is the Group’s parent company, which manages investments into the Group’s companies, by promoting the Group’s joint values and growth in the value of each individual company.