A new petroleum and chemical liquid bulk terminal will be constructed within Singapore’s Jurong Port.
A joint venture agreement between Oiltanking Singapore and Jurong Port will involve the development and operation of a new liquid bulk terminal on 16 acres of existing land opposite Jurong Island.
It will have an initial capacity of 200,000 m3, with the potential to add another 230,000 m3 for a total capacity of 430,000 m3. The facility will be supported by jetties with a draft of 16 meters, capable of berthing vessels up to 120,000 DWT.
The terminal will help support the increasing demand for petrochemical storage in Singapore. It will strengthen Oiltanking’s position in Singapore and enables the company to expand its overall operations in the region, which is known as the petrochemical hub of Asia.
Oiltanking will hold 40% of the shares while Jurong Port will hold 60%.