Gold Magazine April - May 2013, Issue 25 | Seite 46

investment

George Papanastasiou

VTTI B.V.

VTTI is an international company that
owns and operates
oil storage terminals.
Founded in 2006, VTTI
is a joint venture of
two companies, with
investments in oil storage terminals on five
continents with a total
capacity of 8.6 million
m³. VTTI’s shareholders are the Dutch giant
Vitol, the world’s largest trader of energy
products today, and
MISC, a leading shipping company whose
main shareholder is
Petronas, the national
oil company of Malaysia.
VTT Vasiliko Ltd is a
private Cypriot company and a wholly-owned
subsidiary of VTTI B.V.

VTT Vasiliko could serve as an example of
development projects creating job opportunities across a wide spectrum of sectors.
In the current construction phase of the
Terminal, the company employs 15 people
while J&P – the construction company –
employs around 350.
According to Papanastasiou, once the
Terminal becomes operational, around 50
people will be employed in permanent positions. Also many job positions are being
created in service provision companies that
will support the Terminal and its shipping
activities. “These are companies that will
offer tug boating services and the pilotage
of tankers \