Vopak agrees Brazilian buy

15 June 2007 14:58  [Source: ICB]

Vopak has reached an agreement with oil storage and distribution company Puma Group to buy a newly built terminal in Suape, Brazil.

Financial details were not disclosed, but Vopak said both parties want to complete the deal by 1 August.

The terminal consists of 10 tanks with a total capacity of 83,000m³ (2.9m ft³), and stores ethanol and petroleum products. The facility can be expanded to just over 100,000m³ if needed.

Vopak said there are plans for a new refinery in Suape, which is in the fast-developing northeast region of Brazil, that will stimulate further development of the local chemical industry.

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