Vopak has released a new capital markets update outlining its plans for growth, including investing in industrial and gas terminals, sustainable feedstocks and new energies.
The Dutch company is to invest €1 billion by 2030 to grow its base in industrial and gas terminals. It plans to maintain its position as market leader in industrial terminals, whilst expanding its network of LNG and LPG terminals at strategic locations to take advantage of growing global gas markets.
Vopak will also invest €1 billion in new energies and sustainable feedstocks by 2030. It will increase the share of zero- and low-carbon energy and sustainable feedstocks at existing sites and develop new infrastructure for the ‘products of the future, including hydrogen and ammonia. It will also consider CO2 and long duration energy storage. It says the investment will shape the future of the company and ‘positively contribute’ to the energy transition in key industrial clusters, creating the energy hubs of the future.
Vopak says the share of proportional capital invested in oil and chemical segments will gradually decline.
The overall aim of these investments is to improve the performance of the company’s portfolio and generate an operating cash return of at least 10% by 2025.
‘Vopak will continue to manage the portfolio in line with its strategy and be a steward of shareholder value creation. To reflect its strong cash flow generation, Vopak will update its dividend policy to a progressive dividend policy aiming to maintain or grow our annual dividend subject to market conditions,’ says the company in a statement.