The worlds largest independent bulk liquid and chemical storage operator Vopak has established a joint venture with the Tianjin Bohai Chemical Industry Group (Bohai) in Tianjin, China, to build a chemical storage terminal.
Vopak and its local business partners will start the construction with an initial storage capacity of 95,300m3 and two jetties of 50,000 dwt. In the future the capacity can be expanded to 380,00m3.
The terminal will provide independent storage and transshipment services and serve both as an industrial terminal for chemical production plants in the Lingang Industry Park and as a distribution terminal for Chinese regional logistic flows as well as for import and export purposes. It is expected that the terminal will be commissioned in Q3 2011.
In addition, Vopak has established a joint venture with Bohai and Tianjin Lingang Port to build and operate jetties that serve the new terminal in Tianjin. Vopak and Bohai will both have a 30% shareholding and the Port of Tianjin Lingang will hold 40%. The joint venture owns 600 metres of shoreline.
Tianjin is located in the northeast of China and the third largest city of the country after Beijing and Shanghai. The city is considered the logistic gateway to Beijing, which is located less than 150km away, and is one of the major petrochemical distribution centres in the northeast of China.
The Lingang Industry Park in Tianjin is an industrial development area of 80 km².
Vopak already successfully operates 2 storage terminals for chemical products in Tianjin with a total storage capacity of 53,000m3.
Tianjin Bohai Chemical Industrial Group (Bohai) is one of the largest state-owned chemical enterprises in China. Bohai employs more than 50,000 people and has more than 60 chemical production and logistic facilities across China.