May 19, 2011 [Vopak] - Vopak and its joint venture partner Tianjin Bohai Chemical Industry Group (Bohai) willdevelop the second phase of Vopak Terminal Tianjin Lingang in China consisting of 240,000cubic meters of storage capacity for LPG.
In June 2010, Vopak and Bohai (50/50 equal shareholders) announced the construction of thefirst 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 thirdquarter 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 theLingang Industry Park. This new storage capacity, comprising of three low temperature tanks of80,000 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 isone of the major petrochemical distribution centers in the northeast of China. The Lingang IndustryPark 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 otherannounced growth projects currently under construction the total storage capacity of Vopak’sChinese terminal network will increase from 1.2 million cbm to 1.7 million cbm in 2013.
