Vopak to build new JV storage terminal in the Netherlands

11 January 2011 09:04  [Source: ICIS news]

SINGAPORE (ICIS)--Dutch logistics firm Vopak and NIBC European Infrastructure Fund (NEIF) said on Tuesday they have reached an agreement to build and operate a new storage terminal for oil products in the port of Eemshaven, the Netherlands.

The new 50:50 joint-venture (JV) terminal would initially comprise 11 tanks with a storage capacity of 60,000 cubic metres (cbm) each and a jetty for seagoing vessels, the statement said.

The terminal is expected to be commissioned in the third quarter of 2012 and would provide services to “European governments” for the storage of their strategic reserves of liquid oil products such as crude oil, gasoil and gasoline, it said.

The terminal could be expanded to a total storage capacity of 2.76m cbm in the future, the statement added.

NEIF is an infrastructure fund investing in member states of the European Union, with a focus on the Benelux, Germany and the UK.

Financial details of the joint venture were not disclosed in the statement.

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By: Nurluqman Suratman

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