Vopak and its partner NIBC European Infrastructure Fund (NEIF) have reached agreement to build and operate a new storage terminal for oil products in the port of Eemshaven, the Netherlands.
For this new Dutch storage facility a joint venture has been established in which both companies are equal shareholders. The terminal shall provide services to European governments for the storage of their strategic reserves of liquid oil products, such as crude oil, gasoil and gasoline.
Vopak will operate the new terminal that has an initial storage capacity of 660,000 cubic meters, comprising of 11 tanks with a storage capacity of 60,000 cubic meters each, and a jetty for sea-going vessels. This capacity has already been rented-out for a long-term period and is expected to be commissioned in the third quarter of 2012. The terminal can be expanded to a total storage capacity of 2.76 million cubic meters in the future.
The joint venture and Groningen Seaports have signed an agreement for the exploitation of 55 hectares of land situated south-west of the Juliana port in the Eemsmond municipality. The terminal will be designed and operated in compliance with European and Dutch environmental standards.
Rabobank acted as financial advisor with regard to the establishment of the joint venture as well as the concluded long-term project financing agreement of the joint venture with ING Bank NV, NIBC and Rabobank. In this financing ING Bank NV acted as Documentation Bank and Facility Agent.
Profile Vopak
Royal Vopak (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 74 terminals with a storage capacity of more than 21 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.
Profile NIBC European Infrastructure Fund
NIBC European Infrastructure Fund (NEIF) is a EUR 350 million Infrastructure Fund investing in member states of the European Union with a focus on the Benelux, Germany and the UK. The core investor base of the fund consists of large Benelux pension funds and financial institutions, including NIBC Bank NV. NIBC Infrastructure Partners is the general partner of NEIF and is responsible for all investment and divestment decisions of the fund. The general partner has team members located in London, Frankfurt and The Hague.
The fund’s objective is to generate long term stable and predictable cash flows and returns for its investors through long term direct investment in corporate and project based infrastructure assets. The fund’s core sectors of investment are oil and gas storage and distribution facilities, renewable energy, waste management, roads and transportation infrastructure and social infrastructure.
For more information
Koninklijke Vopak N.V. (Royal Vopak)
Global Communication & Investor Relations
Arno Schikker
Telephone :+31 (0)10-4002786
E-mail : global.communication@vopak.com
Website : www.vopak.com
NIBC European Infrastructure Fund
NIBC Corporate Communications
Telephone : +31 (0)70 342 5625
E-mail : info@nibc.com
Website : www.nibc.com