Nawaf Salameh, the prominent Romanian businessman and owner of Alexandrion Group, Romania’s largest spirits producer, has acquired the Octogon Gas & Logistics LPG Terminal located in the port of Constanta.
Salameh emphasized that the Octogon Gas & Logistics LPG Terminal is a vital element of Romania’s energy infrastructure. The transaction has been approved by the Romanian Government, although the financial details of the deal were not disclosed.
The Octogon Gas & Logistics Terminal, established in 2010 by the Idu family, represents a €15 million investment, with €10 million of that amount financed through a loan from Banca Transilvania. The terminal spans 2.39 hectares and boasts a storage capacity of 4,000 cubic meters of liquefied petroleum gas.
In 2023, Octogon Gas & Logistics reported a turnover of €2.6 million but incurred losses amounting to €448,000. The company also faced negative equity, with debts totaling €13 million exceeding the book value of its assets.
