Turkey’s BDY Group acquired the Karadeniz LPG (liquefied petroleum gas) terminal located in Giresun on the Black Sea coast, the vice president of the company said Friday.
Koray Guzelderen said the company views the acquisition as a very significant step in optimizing operations and broadening the company's supply chain in the Black Sea and Eastern Anatolia.
Negotiations to acquire the terminal lasted 3 months.
Swiss company Glencore had operated the terminal over the last four years.
The current 6,000 cubic meter capacity could be doubled if necessary, he confirmed, adding that the company is also open to forming partnerships in the LPG market.
The Turkish BDY Group, operating in LPG wholesale, logistics, warehousing and the mining sectors, had also completed the acquisition last year of the Russian Petgaz company that runs Turkey's largest LPG storage terminal.
The company has Turkey's largest LPG storage terminal with 64,150 cubic meters of capacity with around $60 million investment.
He also said that they are in negotiations for new acquisitions in construction, real estate, mining and technology.
By Nuran Erkul Kaya