Vopak has been selected by Gulf Coast Growth Ventures to design, build, own and operate a new industrial storage terminal on the US Gulf Coast.
The terminal will be dedicated to serving the planned 1.8 million tonnes per year ethane cracker being developed by GCGV, the joint venture between ExxonMobil and SABIC.
All liquid products moved by marine vessels will be handled by the new terminal. The total capacity will be around 130,000 m3 and will include pipelines connecting the terminal to the cracker complex.
It is due to be operational consistent with a planned start-up by 2022. The investment is covered with a long-term agreement and is aligned with Vopak's strategy to focus on industrial terminals and to service the chemical industry.
Eelco Hoekstra, chairman of the executive board and CEO of Vopak, says: 'We are very excited to support GCGV with this major industrial development in the US. We are proud of our expertise and long track record of storing vital products.'