Royal Vopak has announced two expansion projects in Asia. At its Sebarok Terminal in Singapore, the company will add 216,000 cu m of fuel oil storage capacity to the current 1,037,800 cu m. In Vietnam near Ho Chih Minh City, Vopak has acquired an 80% interest in a terminal to serve the chemicals trade.
The additional fuel oil capacity at the Sebarok Terminal will be available to Vopak's customers by the end of the fourth quarter of 2007. The facility is run by Vopak Terminals Singapore Pte Ltd, which is 69.5% owned by Royal Vopak and 30.5% owned by PSA Corporation. The company operates four storage terminals for oil products and chemicals in Singapore: Sebarok, Sakra, Penjuru and Banyan.
It Vietnam, Vopak's local subsidiary has acquired all the shares of AP Petrochemicals Singapore (APPS), which in turn owns an 80% stake of AP Petrochemicals Vietnam (APPV). APPV operates a terminal in Nhoc Trach, South Vietnam, which currently consists of 7 tanks with a total capacity of 8,200 cu m, a jetty, drum filling plant and warehouse, along with land for future expansion. Vopak plans to upgrade and expand the terminal to serve the fast growing chemical distribution market in the greater Ho Chih Minh area, says the company.