The construction of Vopak's new storage terminal in Panama will be carried out by the consortium of FCC and Felguera IHI.
The independent facility in Bahía las Minas will be located next to the existing 509,000 m3 Chevron terminal in Panama, which is operated for Chevron by Vopak. The terminal will have nine storage tanks for marine oil, fuel oil and clean oil products with an aggregate capacity of 360,000 m3.
In addition to the tanks, the construction project will also entail complementary marine infrastructure, including jetties to handle ships of up to 80,000 dwt. Work is scheduled to start immediately and is expected to take 24 months to complete.
The facility is strategically located to the Atlantic entry to the Panama Canal, which is at the crossroads of international transportation and trade routes for refined oil products in the Caribbean region. It will also serve the expected increasing bunkering needs resulted from the expansion of the Panama Canal.
Agustin Silva, MD of Vopak Panama, says: 'The new terminal will be a valuable expansion of the global Vopak network and will enable us to serve our customers at this very strategic location.'