Vopak and Dialog Group build new storage terminal in Malaysia
Tank storage provider Royal Vopak NV (VPK.AE) said Wednesday it has reached agreement with technical services provider Dialog Group Berhad (7277.KU) to build and operate a new independent storage terminal for oil products in Pengerang, Johor in southern Malaysia.
MAIN FACTS:
- For this purpose a joint venture has been established in which Vopak holds 49%.
- This joint venture will form a partnership with the State Government of Johor Darul Ta'zim, in which the joint venture will hold 90%.
- The decision follows the favorable outcome of the joint feasibility study announced in July 2009.
- The terminal will have an initial storage capacity of approximately 1.3 million cubic meters (cbm) and is expected to be commissioned in 2014.
- This capacity can be expanded by an additional 1 million cbm in the future.
MAIN FACTS:
- For this purpose a joint venture has been established in which Vopak holds 49%.
- This joint venture will form a partnership with the State Government of Johor Darul Ta'zim, in which the joint venture will hold 90%.
- The decision follows the favorable outcome of the joint feasibility study announced in July 2009.
- The terminal will have an initial storage capacity of approximately 1.3 million cubic meters (cbm) and is expected to be commissioned in 2014.
- This capacity can be expanded by an additional 1 million cbm in the future.
