VTTI Acquires 50% Interest in a Chemicals Storage Terminal in China
05.18.2020 - NEWS

May 18, 2020 [VTTI] – VTTI, one of the world’s largest independent energy storage providers, today announced its acquisition of a 50% interest in a 119,200 m3 chemicals storage terminal in the port of Dalian in the People’s Republic of China from Odfjell Terminals (China) Pte. Ltd. (OTC).

The other 50% stake of the terminal remains with strong local joint venture partner, Port of Dalian (PDA). The storage terminal in Dalian’s New Port, in Xingang, is strategically located and fully dedicated to chemical products.

This acquisition marks VTTI’s first step into China, the largest petrochemical market in the world. The facility broadens the VTTI chemicals storage portfolio, while also unlocking further growth opportunities in the region.

The terminal is referenced within the Chinese terminal industry, as a specialty chemicals terminal. It is renowned for its excellent QHSE, operational track record and customer relations. The receiving capabilities of the terminal allow customers to have high throughputs, guaranteeing the smooth flow of their operations. Joint venture partner PDA has 11 million cubic meters of storage capacity in the region, with a strong growing railway and pipeline connectivity.

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