VTTI B.V., the leading global independent provider of energy storage, has announced its acquisition of a 51% ownership interest in a 233 400 m3 greenfield project in Pakistan. The terminal is currently under construction at a strategic location near Karachi and will be able to store a range of refined oil products.
VTTI’s expertise and knowledge of the industry as well as its international network, combined with the support of its local partners, Hascol and Fossil, will ensure the future terminal is one of the key independent regional terminals required to supply the growing domestic market. It is expected that due to local economic and demographic growth, the demand for refined products will increase significantly in the future. Through this investment, VTTI is supporting the development of the infrastructure needed to further develop energy security in the region.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/13072017/vtti-acquires-51-interest-in-greenfield-terminal-project/