August 11, 2017 [The Star Online] - Weifang Sime Darby Port Co. Ltd launched its liquid terminal on Friday, a “state-of-the-art terminal project designed to meet the highest safety requirements for bulk oil and chemicals storage and distribution”.
The terminal is part of a RMB2.8bil master expansion plan to place Weifang Sime Darby Port as a significant multi-purpose port in the Northeast Asian region.
Weifang Port’s liquid terminal will be constructed, managed and operated by Weifang Sime Darby Liquid Terminal Co. Ltd (WSDLT), a joint venture company owned in equal parts by Sime Darby Overseas (HK) Ltd and Dragon Crown Group Holdings Ltd.
Phase one with a maximum storage capacity of 406,000 cubic metres is already operational, while phase two with a maximum storage capacity of 91,000 cubic metres will be operational in October.
The final phase with a capacity of 164,000 cubic metres is currently under construction, and is expected to be completed in the first half of 2019.
“The launch of our liquid terminals is timely to capture the growing market for crude and refined oil, as well as chemicals in China. These commodities have benefitted from the gradual liberalisation of import and export policies in China,” says Timothy Lee Chi Tim, vice-chairman of WSDLT.
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