Dutch Vopak and Dialog to build storage terminal in Malaysia

01 June 2011 09:03  [Source: ICIS news]

SINGAPORE (ICIS)--Vopak and Malaysian technical services provider Dialog Group will jointly build and operate a bulk liquid storage terminal at Pengerang in Malaysia’s Johor state, the Dutch logistics firm said on Wednesday.

The new terminal is expected to have six berths and an initial storage capacity of 1.3m cbm that can be expanded by 1m cbm in the future, Vopak said in a statement.

Operations will begin in 2014, it said without providing further details.

Vopak will hold a 49% stake in the joint venture (JV), while Malaysia’s Dialog Group will hold the remaining shares.

The facility will provide storage, blending and distribution services for crude oil and clean oil products and handle very large crude carriers (VLCCs).

The JV aims to serve the growing need for storage capacity in Asia and to facilitate the physical transportation of crude oil and clean oil products.

“With this new terminal for oil products in Pengerang as well as other announced projects under construction, Vopak will add 7.3m cbm to its total storage capacity for bulk liquids on a global scale in the coming years, leading to a total storage capacity of 32.7m cbm in 2014,” the statement said.

The financial details of the project were not disclosed in the statement.

By: Staff Reporter
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