Vopak Approved to Triple Spain Fuel Storage Near Gibraltar
01.03.2014 - NEWS

January 3, 2014 [Bloomberg] - Royal Vopak NV won approval from Spain to triple the capacity of its Algeciras terminal for storing liquids including gasoline, diesel, naphtha and bunker fuel for ships in a bay next to the British territory of Gibraltar.


The project to expand the terminal in Algeciras envisions adding 881,000 cubic meters (31 million cubic feet) of storage and 36 new tanks, according to a resolution of approval by Spain’s energy and mines department published yesterday. The Rotterdam-based company said no final decisions have been made to proceed with construction or on the project’s size.

“It’s still in a feasiblity phase,” Hans de Willigen, Vopak global director of communications and investor relations, said by phone. He said the company is holding discussions with customers and declined to estimate a budget or timing.

Vopak ranks itself as the world’s largest independent tank-storage provider. It owns 80 percent of the terminal on Spanish soil next to Gibraltar at the entrance to the Mediterranean Sea, according to its website. The Vopak Algeciras terminal serves clients with supply contracts worldwide.

The company was required in a previous Spanish government resolution to meet conditions to protect the environment around the site that’s also near a bird sanctuary and wetlands.

Last month Vopak said the market in 2014 looked to be “challenging” to exceed its record earnings before interest, tax, depreciation and amortization set in 2012. Parts of the European market are particularly competitive, it said.

Sinopec Completes Construction of Zhenhai Refinery Expansion in China
12.27.2024 - NEWS
December 27, 2024 [Offshore Technology]- Sinopec has announced the mechanical completion of the s... Read More
Indian Oil Corp to Invest 610 bln Rupees in Naphtha Cracker Project in Odisha State
12.27.2024 - NEWS
December 27, 2024 [Reuters]- Indian Oil Corporation will invest 610 billion rupees ($7 billion) t... Read More
NHPC Plans to Invest USD 646m in New Solar, Hydrogen in India’s Bihar
12.27.2024 - NEWS
December 27, 2024 [Renewables Now]- Indian hydropower utility NHPC Ltd announced a plan to invest... Read More
Huge Natural Gas Processing Plant Secures Final Permits for North Dakota Site
12.27.2024 - NEWS
December 27, 2024 [North Dakota Monitor]- The North Dakota Department of Environmental Quality ha... Read More