Vopak and BlackRock complete US$620 million terminal acquisition
Published by Pippa Luck,
Royal Vopak and BlackRock's global energy and power infrastructure fund (GEPIF) has successfully completed the acquisition of three industrial terminals from Dow on the US Gulf Coast. This acquisition was first announced on 14 September 2020.
Dow selected the new 50/50 joint venture of Royal Vopak and BlackRock's GEPIF to acquire three major industrial terminals on the US Gulf Coast for the amount of US$620 million. The name of the new joint venture is Vopak Industrial Infrastructure Americas LLC, which has a diversified set of infrastructure assets in three locations, with each situated alongside an active Dow production complex.
Vopak Industrial Infrastructure Americas has entered into long-term service agreements with Dow, for storage and infrastructure services. Dow expects Vopak's terminal expertise and capabilities will deliver additional operational efficiencies and opportunities for growth.
The total capacity of the three terminals is 852 000 m3. The Freeport terminal in Texas has 53 tanks (140 000 m3) for storage of chemicals. The St Charles terminal in Louisiana has 73 total tanks (409 000 m3) for storage of chemicals. The Plaquemine terminal in Louisiana has 30 tanks (303 000 m3) for storage of chemicals and refined products. The involved assets include 16.4 ha. of expansion land, 36 vessel berths, multiple pipeline connections, rail and truck racks.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/02122020/vopak-and-blackrock-complete-us620-million-terminal-acquisition/
You might also like
Technip Energies inks cooperation agreement with Congo’s Ministry of Hydrocarbons
Congo’s Ministry of Hydrocarbons has signed a cooperation agreement with Technip Energies that will see the parties expand cooperation in the fields of offshore and onshore energy developments.