GSP and ECOSLOPS sign LOI to explore the feasibility of creating an oil residues recycling plant in Constanta Port

December 16, 2015

The Letter of Intent signed by GSP and ECOSLOPS envisages a future collaboration between the two companies in respect of conducting a feasibility study on establishing an oil residues recycling plant in the Port of Constanta, Romania.  Subject to a positive outcome of the feasibility study, ECOSLOPS and GSP will form a joint venture to implement the project, from building and managing the plant to selling its products.

This latest development follows the successful implementation of industrial production at ECOSLOPS’ plant in the Port of Sinès, Portugal, and the first sale of marine fuel products and light bitumen. 

Located on the west coast of the Black Sea, the Port of Constanta is one of the main petroleum product distribution centers for Central and Eastern Europe, and is directly connected, via the Black Sea – Danube and Danube – Rhine major waterways, to the Port of Rotterdam, where GSP has a representative office. 

About ECOSLOPS: ECOSLOPS has developed a unique technology to transform oil residues from shipping (slops and sludges) into new recycled marine fuels. The Company’s ambition is to establish itself as major player in the treatment of marine hydrocarbon waste. The first industrial unit is based in Sinès, first commercial port in Portugal. For more information about Ecoslops, click here.