TNK-BP Acquires 74.9% of Sheremetyevo’s Fueling Complex

Марта 09, 2011

LLC TNK-Sheremetyevo, a subsidiary of OJSC TNK-BP Holding, has completed a deal to acquire 74.9% of CJSC “Toplivozapravochny kompleks Sheremetyevo”, the operator of jet fuel storage and into-wing fueling services at Sheremetyevo International Airport.

The company acquired the right to carry out the deal by winning a tender run jointly by Aeroflot and Sheremetyevo airport in December 2010. The transaction is valued at over $200 mln.
«As one of the largest jet fuel producers in Russia, TNK-BP has been supplying substantial volumes to Sheremetyevo International Airport since 2009”, said Dmitry Ustinov, Vice President, Business Marketing and New Business Development. «We intend to continue meeting Sheremetyevo’s requirements for high-quality jet fuel, as well as participating jointly with the airport in a comprehensive modernization programme of its jet fuel supply system».
The modernization programme is designed to upgrade the fueling equipment, install a failsafe jet fuel supply system and bring it into line with modern safety and environmental standards.
According to preliminary estimates, investment in modernizing the fueling complex at Sheremetyevo airport will exceed 2 bln rubles.