WILLEMSTAD - Essar Group from India is interested in the acquisition of the Curaçao refinery and oil terminal at Bullen Bay. Curaçao Chronicle reported previously that Curaçao Oil Refinery Complex (CORC BV) has thrown in the towel.
Essar has participated in previous selection rounds, but was not given the status of 'preferred bidder'. It has not yet been confirmed, but Essar is said to have expressed its interest to Refineria di Korsou (RdK) at the beginning of this year and offered to pay the salaries of the former Isla employees.
The organization is in telecommunications, steel, petroleum and in India's top ten industrial houses. Essar Global Fund Limited (EGFL) is a global investor that owns a number of “world-class assets” diversified across the core sectors of Energy, Infrastructure, Metals & Mining and Services & Technology.
EGFL invests in long-term capital in the companies and in many cases has an interest of almost one hundred percent in its investments.
In Curaçao, the organization must demonstrate that it has sufficient crude oil and enough start-up, working and investment capital. Local sources indicate that this would be the case with Essar.