October 31, 2016 [PRNewswire] - VTTI, the global independent provider of energy storage, and Energia Naturalis Holding (ENNA), have signed an agreement for the purchase by VTTI of 70% of Adriatic Tank Terminal (ATT) in the Port of Ploce, the main Adriatic deep-water port.
VTTI and ENNA will jointly expand and operate the newly built terminal in the Port of Ploce. The closing of the transaction is subject to closing conditions, including regulatory conditions. VTTI will manage the newly-completed tankage for clean petroleum products (CPP), and shall construct and operate further tank capacity alongside a significant new LPG (Liquefied Petroleum Gas) storage capability, with leading-edge technology.
Phase 1 of ATT is already constructed: in September 2016, the terminal completed the construction of 50,000 m3 capacity for clean petroleum products. Phase 2 will deliver over 200,000 m3 of petroleum storage, as well as up to 60,000 m3 of LPG storage; this will be the largest new LPG storage project in the heart of the Adriatic. In the future, additional space would allow the option of a Phase 3 project for further storage of minimum 100,000 m3 of petroleum products.
