(EnergyAsia, April 25, Friday) — Dutch oil and gas storage firm Royal Vopak said it has agreed to fully acquire Intercontinental Terminals (M) Sdn Bhd in Johor state, Malaysia from owners Mitsui & Co and Tejana Trading Corporation Sdn Bhd.
The terminal is located in the free trade zone of Johor Port in the Pasir Gudang area, which lies inside the designated Iskandar development zone in southern Malaysia.
The terminal consists of 17 tanks with a total capacity of 20,600 cbm, which are now fully used by a several large petrochemical companies. The facility will be named Vopak Terminal Pasir Gudang.
The Pasir Gudang area is undergoing rapid growth in the production and export of palm oil and related oleochemical products, biodiesel and petrochemical products. To support the increasing product flows, Vopak will develop plans to expand the terminal’s capacity.
With the acquisition of the Pasir Gudang terminal Vopak strengthens its presence in Malaysia.
Vopak is already a joint venture partner in Kertih Terminals, a 395,900 cbm facility for storing chemical products and liquefied gas in Kertih town in the Malaysian state of Terengganu.
Royal Vopak is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. The company operates 75 terminals with a storage capacity of more than 22 million cbm in 30 countries.