Serbia's NIS Buys Bulgarian Fuel Storage

Serbian energy company Naftna Industrija Srbije (NIS) has purchased a fuel storage in Bulgaria.

The 25,500 cubic meter-facility in Kostinbrod, northwest of Bulgaria's capital Sofia, will be used for storing, blending and distributing gasoline, diesel, biodiesel, ethanol and liquefied natural gas, the Novi Sad-based refiner said Friday, as cited by Bloomberg.

The seller and the price of the acquisition have not been disclosed.

The storage will be fully operational by the end of the month, according to the company.

NIS says plans "a significant increase" of storage capacity in Bulgaria over the next three years, as part of the development of its retail network in the region.