Stolt Nielsen looks likely to win a development contract for a storage project which will involve the construction of 4 million barrels of petrochemicals at Jurong Prot in Singapore, according to Reuters.
The deal, which includes storage and terminal work, is expected to be worth about $300 million (€228 million) and is part of the development being built on the western edge of Singapore.
The contract was meant to have been handed out in December but now the decision on what company will be awarded it is expected to be made within the coming few months.
Included in the new project plans is 3.15 million barrels of oil storage and the remaining 750,000 barrels will hold chemicals.
It was thought China Aviation Oil and Vitol were also involved in the bidding.