The groundbreaking ceremony for the project’s first phase, which will have a capacity of 61,000 m³, took place on Wednesday.
Expected to be fully operational by the third quarter of 2011, the facility will provide storage and transportation services to chemical plants on the island, and employ up to 50 people. Stolthaven plans to build up a total storage capacity of 354,000 cubic metres in successive phases over the next two to three years.
The subsidiary of Stolt-Nielsen Group first announced its building plans in July 2008, with completion scheduled for this year. But the project was put on hold due to a lack of customer commitment arising from the financial crisis.