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One of the contracts was concluded with a consortium of SIA SKH and Energetikos Remonto ir Montavimo Centras, and the other with Montuotojas and Hidrostatyba, Klaipedos Nafta said.

These are the first and main construction contracts of the second 35.9-mln-euro investment phase in the terminal's light oil product tank farm expansion.

The contract with SIA SKH and Energetikos Remonto ir Montavimo Centras calls for building six light oil product tanks with a capacity of 20,000 cubic meters each, with around 13.8 mln euros to be invested in the project.

Under the contract with Montuotojas and Hidrostatyba, two 10,000 cubic-meter tanks and four 5,000 cubic-meter tanks are to be built for around 9 mln euros in total.

Klaipedos Nafta's shareholders will be asked to approve the management board's decision to conclude the contracts at their general meeting scheduled for July 4.

Klaipedos Nafta's shares are quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange