Stolthaven breaks ground on new chemical storage terminal

10 June 2010 04:02  [Source: ICIS news]

SINGAPORE (ICIS news)--Stolthaven Terminals has begun construction at its Singapore dollar (S$)350m ($246m) chemical storage terminal on Jurong Island in the city state, a source from parent company Stolt-Nielsen said on Thursday.

Stolthaven broke ground on the first phase of its project on 9 June, the source said, adding that the facility was expected to be fully operational by the third quarter of 2011.

The first phase would give the bulk-liquid chemical terminal company 61,000 cubic metres of storage, with additional capacity expected to be constructed in the next two to three years, the source added.

Total capacity of the terminal upon completion would be 354,000 cubic metres, the source said.

Stolthaven Terminals is a subsidiary of the Stolt-Nielsen Group, a Norway-listed chemical tanker company.

Singapore’s chemicals hub at Jurong Island houses other chemical storage companies such as Vopak, Oiltanking and Katoen Natie.

($1 = S$1.42)

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By: Nurluqman Suratman

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