Vopak plans strategic joint venture with First Reserve for a 3 million cubic meter terminal in the Bahamas

Vopak has reached agreement in principal with First Reserve Corporation to form a strategic joint venture company for the Freeport oil terminal facility, known as Borco oil terminal, on the Grand Bahama Island (Bahamas). Vopak and First Reserve agreed that the terminal will be operated by Vopak and according to Vopak’s global operating standards and practices. In addition, Vopak will acquire a 20% interest in this terminal. The terminal will be named Vopak Terminal Bahamas and will be operated as an integral part of the Vopak global network.