Vopak and its joint venture partner Tianjin Bohai Chemical Industry Group (Bohai) will develop the second phase of Vopak Terminal Tianjin Lingang in China consisting of 240,000 cubic meters of storage capacity for LPG.
In June 2010, Vopak and Bohai (50/50 equal shareholders) announced the construction of the first phase of the Tianjin Lingang storage terminal with an initial capacity of 95,300 cubic meters (cbm) dedicated for the storage of chemicals, which is expected to be commissioned in the third quarter of 2011.
Vopak now announces the second development phase of Vopak Terminal Tianjin Lingang, which consists of 240,000 cbm of storage capacity dedicated for the storage of LPG (propane) and a new pipeline connection to the plant of Tianjin Bohua Petrochemical Co., Ltd. in the Lingang Industry Park. This new storage capacity, comprising of three low temperature tanks of 80,000 cbm each, is expected to be commissioned in the second quarter of 2013.
Tianjin is considered the main logistics gateway to Beijing, less than 150 kilometers away, and is one of the major petrochemical distribution centers in the northeast of China. The Lingang Industry Park in Tianjin is a rapidly developing industrial area of 80 km².
China is an important growth market for Vopak. With these developments in Tianjin as well as other announced growth projects currently under construction the total storage capacity of Vopak’s Chinese terminal network will increase from 1.2 million cbm to 1.7 million cbm in 2013.
Profile Vopak
Vopak is the world's largest independent tank storage service provider, specializing in the storage and handling of bulk liquid chemicals, gasses 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.
Profile of Tianjin Bohai Chemical Industrial Group
Tianjin Bohai Chemical Industrial Group (Bohai) is one of the largest state-owned chemical enterprises in China. Bohai employs more than 50,000 people and has more than 60 chemical production and logistic facilities across China.