January 18, 2022 [MarketScreener] – The joint venture between Stolthaven Terminals and Revivegen Environmental Technology Co. LTD was made official today at a ceremony with Taiwan Cooperative Bank in Kaohsiung.
Stolthaven Revivegen Kaohsiung Terminal Co., Ltd. (SHRVK), will meet growing customer demand for high-quality bulk liquid storage in the region and introduce more international trade to Taiwan.
The two companies formally entered the joint venture to develop a new greenfield terminal in Kaohsiung Port, Taiwan, after signing a letter of intent in April 2021.
Together, they plan to develop integrated storage, drumming, warehousing, and distribution solutions for chemical and bulk specialty liquid customers. The terminal is also well positioned to provide storage to support the transition to greener energy and fuel alternatives, including ammonia. This aligns with the Taiwan government’s strategy towards net-zero emissions by 2050, which includes ambitions to cut carbon emissions by 20% by 2030 (compared to 2005 levels), introducing low-carbon industrial processes and building a zero-carbon fuel supply system.
Meanwhile, Stolthaven Terminals’ focus on the digitisation and automation of its terminals will bring increased innovation to the existing terminal industry in Taiwan.
Stolthaven Terminals President Guy Bessant (pictured above right) said: “We are delighted with the addition of the SHRVK terminal to our global network, which enables us to increase the reach of the supply chain solutions that we can offer our customers. The partnership also opens up Taiwan to our broad customer base and the integrated services we can provide in collaboration with our sister companies Stolt Tankers and Stolt Tank Containers.
“Together with Revivegen’s expertise and local knowledge we will deliver a terminal that focuses on the safe and efficient handling and storage of chemicals and industrial gases for local and multinational companies. And we will use our experience in innovative sustainability projects to support Taiwan’s progress towards its carbon-reduction ambitions.”
Chairman and General Manager, Revivegen Environmental Technology Co., Ltd., Cheng Yu Chung (pictured above left), said: “Establishing a joint venture with Stolthaven Terminals allows Revivegen to enter into the chemical storage industry and gain more exposure to international business and digitisation, which creates a win-win situation for both companies. This joint venture is also expected to elevate the status of Kaohsiung Port as a global storage and distribution hub.”
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