Delta Petroleum

completed

The project entails a $45 million corporate loan to Delta Petrol Urunleri Ticaret A.S (Delta). The proceeds of the loan will be used:- to expand the company’s current 300,000 m3 Dortyol Petroleum Products Storage Terminal, through the construction of an additional 300,000m3 of capacity, in addition to a jetty with three berthing stations, with capacity to load and discharge vessels of up to 150,000 dwt; and - to expand Delta''s petroleum products distribution network, through its “Gulf” branded service stations. Delta engages in three related business lines: - storage of petroleum products at its Dortyol storage facility, in Iskanderin Bay, in the eastern Meditteranean; - trading and transport of petroleum products, primarily based on sales to, or purchases from, Iraq over the Iraq / Turkey Northern Corridor, supported by a fleet of Delta-owned LPG trailers, and a transport contracting operation; and - distribution of petroleum products in Turkey.