The Black Sea Trade and Development Bank (BSTDB) this week announced its intent to invest 31.1 million euros in a bond issued by Hellenic Petroleum S.A. (Hel.Pe), Greece’s largest refining and petro-chemical conglomerate.
Hel.Pe has stated that it will use the capital to expand activities in Greece and Bulgaria, including an expansion of its retail network expansion and environmental improvements.
“We are happy to support the capital investment program of Hellenic Petroleum and to contribute to the development of the Greek oil refining industry. Assisting in restoring Greek economic growth during the current challenging period is a strategic priority for BSTDB and we are pleased to see the returning economic stability and investors’ confidence in the country,” BSTDB President Ihsan Ugur Delikanli stated in a press release, adding: “We are planning to increase further our support for the Greek economy.”
