Mitan Holding invests EUR 25 million in oil terminal in Smederevo – New investments announced

Having estimated that the investment climate in Serbia was positive and that Serbia, the Danube and the Free Zone had great strategic and logistics importance, Mitan Oil decided to build an oil terminal in Smederevo.

– The project is realized as a greenfield investment, which means that we built the facility with a capacity of 50,000 m3 from the ground up. The investments of EUR 25 million was financed exclusively from our own funds, without relying on loans from local banks or state subsidies, which is a rarity in Serbia – stated director of Mitan Oil, Dusan Vukovic.

Mitan Holding is a Swiss company headqurtered in Zurich. In several decades of operations in the field of trading with and storing oil and oil products, they have successfully cooperated with reputed international partners in delivering oil products in peace mission, including the UN, the USA Defense Fuel Agency, the Swiss agency VBS-SWISSCOY and many others.

Today, Mital Oil is the biggest private oil terminal in Serbia and the region.

– We are capable of storing 50,000 m3 of white oils at any moment and dispatching 3,000,000 liters a day, that is, 500,000 mt a year.

The Mitan Oil terminal operates as part of the Smederevo Free Zone.

– We are extremely happy that the Republic of Serbia has recognized the importance of Smederevo for foreign investors and that, with the opening of the Smederevo Free Zone, they have been provided with a range of incentives in the domain of fiscal and commercially policy. This provides benefits to the state, foreign investors and end users. The services of the Free Zone enable our clients to rationalize their expenses and offer more competitive prices in the market, whereas the revenues of the Smederevo Free Zone have grown three times – Vukovic said.

Mitan Oil still believes, however, that corporate power is not based on capacities, but on a clear orientation towards providing top quality service and the latest technology.

(Dusan Vukovic) – The entire process, from collecting the goods to dispatching them to end clients, is carried out by devices of the latest technology made by German and French producers, leaders in the field of oil terminal equipment, such as Satam, Mercedes, Bornemann, Endress Hauser and others. The organization’s operations have been brought in line with international standards ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2008.

As Vukovic says, the company’s orientation is towards environmentally aware activities and permanent investments in the prevention of negative environmental impact.

– In that context, we have invested a lot of money in the equipment for pollution control and we are conducting regular analyses of the impact on water, soil and air. We focus on sustainable development and adhering to local and European environmental standards and we are proud of it – Vukovic added.

Local and international leaders in the field of oil product trade, such as Mol Serbia, member of the MOL Group, Eko Serbia, member of Hellenic Petroleum, Greece’s Coral, carrier of the Shell license and the Swiss Kaz Munay Trading, operate at the Mitan Oil terminal.

– Investments of this type are important, as they enable big international companies to be present in the Serbian market, whereas, for the citizens and companies in Serbia, this is an opportunity to buy fuel produced in Austria, Hungary, Romania and other European states, providing them with more competitive process and better quality.

Since 2011, when the company was founded and when investors stepped for the first time on undeveloped agricultural ground in the industrial zone in Smederevo, to the present moment, when the same location contains a modern terminal through which 50% of the import of oil products to Serbia is carried out, the company has gone down the path of success, but also of difficulty. Strategic plans for growth and development do not end there, however.

– In the next six months, we plan to carry out investment works on the construction of an industrial route which will enable the acceptance of goods by railway. This way, all the risks related to the delivery of the goods by the Danube, such as navigability, low or high water level, will be minimized. This has a strategic importance for the Republic of Serbia, as it enables increased stability, safety and continuity of supply in critical periods. Furthermore, we have signed a Protocol with the company Transnafta on connecting to the pipeline system in Serbia. In that context, following the realization of these projects, we will be one of the rare terminals in the region with four alternative types of goods transport.

Mitan Oil d.o.o. Beograd

Slobodna zona Smederevo

MOL Srbija Beograd

EKO Serbia ad Beograd

Transnafta ad Pančevo

Smederevo oil terminal

Mitan Holding

Dusan Vukovic

Satam

Mercedes

Bornemann

Endress Hauser

MOL Group

Eko Serbia

Hellenic Petroleum

Coral

Shell

Kaz Munay Trading

private oil terminal Serbia

oil terminals Danube