Odfjell’s subsidiary Odfjell Terminals Asia (Singapore) is to develop a terminal together with marine facilities at Nangang (Tianjin).
This will be achieved through forming a joint venture with Tianjin Economic-Technology Development Area (TEDA), via its subsidiary Nangang Port Company.
The terminal will handle bulk liquid chemicals, petroleum products and gases in China’s Nangang Industrial Zone (Tianjin).
The initial phase of the joint venture will comprise three deepsea berths and a storage capacity of about 150,000 cu m and is scheduled to come on stream during the second quarter of 2014.
Called Odfjell Terminals Nangang (Tianjin), Odfjell will hold a 49% stake in the venture and will conduct the operational management.
Nangang Industrial Zone is located about 120 km from Beijing and will become the major petrochemical complex in the Western Bohai Bay area.