OREANDA-NEWS. April 7, 2008. Subsidiary of JSC Ventspils nafta crude oil and petroleum product transshipment company Ventspils nafta terminals Ltd, as in the previous years, has planned to donate a large sum of money – almost 900,000 lats for development of Ventspils city.

In 2008, more than a half of the allocated sum is planned to be used for development of culture area – 32,650 lats are provided for cofinancement of culture projects, for its part 44,500 lats – for construction of the Pвrventa library. This object is very relevant for the city – work was commenced in 2006 when continuing improvement of the Ventspils library network in order to open the new library in Pвrventa already in 2009. The new library will be located at the centre of Pвrventa next to the fountain Kвpu priede (Sand-dune Pine-tree), Tвrgales Street 4. At present, the detail design of the new library is elaborated and construction work is planned to be commenced in May of this year. The new library will give a bright accent to the Pвrventa architecture. It is planned that the building will be round-shaped with bookshelves placed by the walls that will curl upwards like a spiral along with the floors of the building. The new library will serve the people as both information and cultural, as well as social centre. The Pвrventa library is planned to be put into operation in the first part of 2009.

Ventspils nafta terminals Ltd has allocated considerable financial resources also for the Ventspils city infrastructure development program and for arrangement of house ownership of the municipality, as well as for development of business activities in Ventspils.

Ventspils nafta terminals Ltd is a subsidiary of JSC Ventspils nafta, 51% of which belongs to JSC Ventspils nafta while 49% are owned by the Vitol company Euromin Holdings (Cyprus) Limited. The terminal renders transit services: reception of oil and diesel fuel via pipelines, as well as reception, storage and transshipment of diesel fuel, motor gasoline and other petroleum products delivered by rail and sea.

Ventspils nafta terminals Ltd is the largest of such companies in the region, and its crude oil and petroleum products shore-tank farm reaches 1.2 million cubic meters and has no analogues among similar companies in the nearest countries.