Rotterdam, the Netherlands, 1 June 2011
Royal Vopak (Vopak) and Dialog Group Berhad (Dialog) of Malaysia have reached agreement to build and operate a new independent storage terminal for oil products in Pengerang, Johor in southern Malaysia. 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 Pengerang region is located at the south eastern-most tip of Johor, close to international shipping routes and the international oil hub in Singapore.
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. The facility will provide storage, blending and distribution services for crude oil and clean oil products and will be capable of handling Very Large Crude Carriers. In the initial phase the terminal will have six berths.
With this new world-class deepwater storage terminal, the partners aim to serve the growing need for storage capacity in the main oil trading center of Asia and to facilitate the physical transportation of crude oil and clean oil products.
Dialog and Vopak are currently equity partners in Kertih Terminals in Malaysia. This is a 395,900 cbm storage facility for chemical products and liquefied gas, located in Kertih, Terengganu.
Vopak actively pursues a growth strategy in many locations around the world that are of critical importance to its customers. With this new terminal for oil products in Pengerang as well as other announced projects under construction Vopak will add 7.3 million cbm to its total storage capacity for bulk liquids on a global scale in the coming years, leading to a total storage capacity of 32.7 million cbm in 2014.
Royal Vopak is the world's largest independent tank storage service provider, specializing in the storage and handling of bulk liquid chemicals, gases and oil products. Vopak operates 79 terminals with a storage capacity of more than 25 million cubic meters in 30 countries. The terminals are strategically located for users along the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.
Dialog is listed on the Main Market of Bursa Malaysia. Dialog is an integrated specialist technical services provider to the oil, gas and petrochemical industry. The services provided range from upstream to downstream activities encompassing logistic services – tank terminals and supply base, specialist products and services, catalyst handling services, plant maintenance, engineering and construction and fabrication, and ePayment technology & solutions.