A new oil and chemical bulk liquid storage terminal has been opened in China.
The Weifang Sime Darby liquid terminal expands Weifang Sime Darby Port's range of services offered for storage and other terminal facilities.
The first phase of the facility was opened earlier this month, with a storage capacity of 406,000 m3. The second phase, which involves the construction of 91,000 m3 of capacity is expected to become operational in October. Building work on the final phase, with a capacity of 164,000 m3 is expected to be complete by the first half of 2019.
The terminal will be build, managed and operated by Weifang Sime Darby Liquid Terminals, a JV company owned equally by Sime Darby Overseas and Dragon Crown Group Holdings.
The port sits within the network of Longkou Port, Yantai Port, Weihai Port, Qingdao Port and Rizhao Port and it receives cargos from central, northern and western Shandong and Weifang city.
Timothy Lee Chi Tim, vice chairman of Weifang Sime Darby Liquid Terminal, says: 'The terminal is part of our RMB 2.8 billion master expansion plan, which will put Weifang Sime Darby Port on the roadmap to achieving our aim of becoming a significant multi-purpose port in the northeast Asian region.
'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.'
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