OGJ Oil Diplomacy Editor
LOS ANGELES, May 28 -- Koninklijke Vopak NV has decided to build and operate a storage terminal for more than 1.1 million cu m of oil products in the Port of Amsterdam.
The terminal, which will be used for the storage and blending of gasoline and other clean oil products, will meet the need for additional storage capacity for products in the Amsterdam-Rotterdam-Antwerp region.
Vopak said the proposed terminal underlines the Port of Amsterdam's position as a logistical hub for gasoline, easing product flows among Asia, Europe, and North America.
The terminal will have two jetties for seagoing vessels with maximum capacity of 120,000 dwt and eight berths for seagoing vessels, coasters, and inland barges with capacity up to 20,000 dwt.
Construction is to start as soon as possible on the first phase of 620,000 cu m, and the terminal is expected to be operational in stages in the second half of 2011.
Vopak awarded construction of the terminal to BAM Leidingen & Industrie BV, an operating company of Royal BAM Group NV.
Vopak and the Amsterdam Port Authority previously signed a lease contract for a 35-hectare site in the Africa harbor in Amsterdam-Westpoort, the western port area.
Earlier this month, PT Jakarta Tank Terminal (JTT), a joint venture between PT AKR Corporindo Tbk and Vopak, signed a $60 million financing agreement to finance the construction of the 250,000 cu m Vopak Terminal Jakarta, an independent petroleum storage terminal at Jakarta's Tanjung Priok port.
Financing was provided by the international banks Netherlands Development Finance Co., German Investment & Development Co., and ING Bank NV Singapore to fund construction of the first phase of the storage terminal, which will be operational in 2010.
JTT is a joint venture between PT AKR Corporindo Tbk 51%, Indonesia's leading bulk chemicals and largest private sector distributor for petroleum products, and Vopak Indonesia BV 49%.
Contact Eric Watkins at email@example.com.