Royal Vopak announces it has reached an agreement with Mitsui & Co and Tejana Trading Corporation Sdn Bhd to acquire 100% of the shares in Intercontinental Terminals (M) Sdn Bhd in Malaysia. The terminal is located in the free trade zone within the Johor Port at Pasir Gudang, which lies within the designated Iskandar development zone in southern Malaysia.
The terminal consists of 17 tanks with a total capacity of 20,600 cbm, which are currently fully utilized by a number of global petrochemical companies. The facility will be named Vopak Terminal Pasir Gudang. The Pasir Gudang region is seeing rapid growth in the production and export of palm oil and related oleochemical products, biodiesel and petrochemical products. To support the increasing product flows Vopak will develop plans to expand the terminal’s capacity.
With the acquisition of the Pasir Gudang terminal Vopak strengthens its presence in Malaysia. Vopak is already a joint venture partner in Kertih Terminals, a 395,900 cbm storage facility for chemical products and liquefied gas in Kertih, which is located in the Malaysian province of Terengganu.
Profile Vopak
Royal Vopak is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 75 terminals with a storage capacity of more than 22 million cbm in 30 countries. The terminals are strategically located for users and 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.