The project would make Vopak one of a few foreign companies involved in China’s crude storage business which is pretty well run by the country’s state-run oil firms.
The facility, to be built in China’s southernmost Hainan island, will include two 300,000-tonne crude terminals and two 100,000-tonne berths for crude and oil products.
The project will include oil storage tanks on a 5 million square meter space.
Vopak already operates storage facilities, mostly chemicals, in the eastern coastal provinces of Jiangsu, Fujian and Zhejiang, Shandong as well as the city of Tianjin.
Source: Reuters UK