Vopak ups stake in Estonia terminal JV to 50%

31 July 2008 10:42  [Source: ICIS news]

LONDON (ICIS news)--Vopak has increased its stake in Estonian tank terminal joint venture Vopak EOS to 50%, making it equal shareholders with Moscow-based N-Trans, the company said on Thursday.

 

The two companies set up the joint venture in Talinn in April 2008 to combine available terminal assets in the region, with Vopak initially taking a 35% stake in the business.

 

The terminals contain storage capacity of 740,000 cubic metres for both light and heavy oil products. The company plans to expand it by another 200,000 cubic metres by the end of 2008, it said.

 

Vopak EOS said it expected to transship over 15m tonnes of oil products in 2008 from Russia, Belarus and Kazakhstan to the rest of the world.

 

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By: Mark Watts
+44 20 8652 3214

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