Global storage company Stolthaven Terminals has been given permission by the Singapore Economic Development Board to build a chemical terminal on Jurong Island in Singapore.
On 2 April Stolthaven Terminals entered into a letter of intent with Poh Tiong Choon Logistics (PTC) to form a JV for the Jurong Island terminal.
PTC is a strategic local partner with Stolt's tank container division on Jurong Island, which also includes Stolt – PTC Bitubulk, part of Stolt Bitumen Services.
The terminal will be constructed on 15 hectares of vacant land. The jetty and first tanks of phase one of the project will be operational during Q1 or Q2 2010, and the facilities of phase two will come on stream between Q2 and Q4 2010.
The anticipated capacity of the terminal is 324,900 m³.
'The goal is to build a multipurpose terminal that can store a wide variety of chemical products,' says Jens Gruner-Hegge, VP of corporate finance at Stolt-Nielsen. 'Our industrial customers in the local area will store their feedstocks and all kinds of chemical products including gasses.'
Stolt has signed a letter of intent with Rotary Engineering for construction and Environmental Resource Management (ERM) for environmental and safety studies, including environmental baseline studies, quantitative risk analysis and pollution control studies, as well as marine offshore studies.
The plans are still subject to additional agreements with local authorities.