In 1990, in Romania there were 10 refineries, which used to process 34 million tons of crude oil per year. Currently, only three process crude oil, the rest being either in ‘preservation’ or have become scrap iron. The last on the list of decay is Rafo Onesti, which went bankrupt at the end of last year and which, in 2004, ranked 6th in the top of the largest companies in Romania.
At the end of July, Roserv Oil, part of Grampet Group, purchased the industrial platform of Rafo Onesti refinery, within a public tender procedure, coordinated by Casa de Insolventa Transilvania (CITR).
“The transaction for selling the asset was completed according to the capitalization strategy approved by Rafo Onesti creditors, within the insolvency procedure, with the aim of developing the largest logistics center in Moldavia,” say CITR representatives.
Roserv Oil is a newly established company that will focus on the national development of logistics terminals for both containers and warehouses for petroleum products. In this context, the company has decided to purchase the assets of Rafo Onesti platform, in bankruptcy, with the purpose of developing the largest logistics center for containers and petroleum products that will serve Moldavia region. This specialization comes to supplement the main object of activity of Grampet Group, rail freight transport. With the takeover by Roserv Oil, Rafo Onesti assets become productive assets, part of the commercial activity of Grampet Group.
Once taken over by Roserv Oil, the platform could generate, in the long run, at least 600 jobs, and the first phase of the project, which involves the traded assets, will generate over 200 jobs. In the near future Roserv Oil will start a process to evaluate the existing facilities.