Gunvor Petroleum Rotterdam, a subsidiary of Gunvor Group, has received $200m of project financing for the development and infrastructural upgrade of its facilities.
The company said that the development program would integrate the refinery with the company’s existing refinery network in Europe.
At present, the group also includes refineries in Antwerp, Belgium and Ingolstadt, Germany.
GPR refinery manager Erwin Goosen said: “We are pleased that this financing is secured as this will enable us to execute the improvement plans we have developed for the coming years to become even more of a valued asset to the Gunvor organization.”
Gunvor, based in Cyprus, is a global commodity trading company. The company acquired the Rotterdam refinery and distribution network earlier this year from Kuwait Petroleum International.