Kulevi: SOCAR's oil terminal in Kulevi is set to boost its cargo transshipment by 20% this year, as it aims to handle 3 million tons of products. This announcement was made by Ismayil Karimov, Director General of the Black Sea Terminal, during the 2nd Caspian and Central Asia Oil Trade and Logistics Forum organized by GLENMAR Group.

According to Azeri-Press News Agency, last year, the terminal handled 2.5 million tons, and this year's target would mark a significant increase. Ismayil Karimov highlighted that this growth is expected to be achieved through infrastructure enhancements and faster turnover rates.

A key project contributing to this growth is the construction of four new storage tanks at the Kulevi terminal, each with a capacity of 20,000 cubic meters, totaling 80,000 cubic meters. The construction work, undertaken by a contractor company, is expected to be completed by mid-next year. The total investment in this project amounts to $25 million and is self-financed by the terminal.

Currently, the terminal boasts a storage capacity of 407,000 cubic meters, and these developments aim to further bolster its operational capabilities.