On April 5 2013 Shtandart TT B.V. and Port of Rotterdam Authority signed the land transfer agreement. It is an important milestone that allows Shtandart to start execution of the new major crude and products oil terminal (Tank terminal Europoort West, TEW) in the Port, including completion of the permitting and contracting of the work on the site. All discussions around issues related to UXO’s (unexploded ordnances) left from WWII, have been successfully concluded. Construction will begin next year and the terminal will become operational in 2016.

Shtandart is a joint venture between two partners, Summa Group and VTTI, who are 75 percent and 25 percent shareholders respectively.

About Summa Group
Summa Group, headquartered in Moscow, is a private investment holding company with interests in oil and gas, mining, commercial port operations, engineering, construction and telecoms. Through its holdings in NMTP, Summa Group co-owns Russia's largest crude oil export port Primorsk, and the Port of Novorossisk on the Black Sea.

About VTTI
VTTI, headquartered in Rotterdam, is one of the leading independent tank terminal companies in the world. VTTI owns and operates 11 terminals on 5 continents, with a total storage capacity of 6 million cubic meters. By 2012, VTTI will have 7.3 million cubic meters capacity, going up beyond 8 million cubic meters in 2013 given the existence portfolio of expansion projects. VTTI is a 50/50 joint venture of oil trader Vitol Group and shipping company MISC Berhad.

See the site of Tank terminal Europoort West