Uchenna Izundu
International Editor
LONDON, Nov. 9 -- Royal Vopak plans to construct an oil products storage terminal on the coast of the Sea of Marmara in the vicinity of Yalova, Turkey.
The company has bought GY Elyaf ve Iplik Sanayi Ticaret Anonim Sirketi from Global Yatırım Holding AS, the Turkish public natural gas and power generation company, for an undisclosed sum. It will submit applications to secure necessary permits and prepare marketing, technical, and economic plans. "Thereafter a final investment decision to construct the terminal can be taken," Vopak said.
The 26-ha industrial plot of land will serve the greater Istanbul area and store liquid bulk chemical, oil, and vegetable oil products.
Vopak said its customers were interested in using independent storage facilities around the Sea of Marmara because of its major development.
Contact Uchenna Izundu at [email protected].