Vopak to Build, Operate New Terminal in Texas
- Business & Finance
Dutch tank storage company Royal Vopak has been selected by Gulf Coast Growth Ventures (GCGV), the petrochemical joint-venture between ExxonMobil and SABIC, to design, build, own and operate a new industrial terminal on the U.S. Gulf Coast.
The terminal will be dedicated to serving the planned 1.8 million tonnes per year ethane cracker.
As explained, the new Vopak terminal will handle all liquid products moved by marine vessels.
The total capacity will be around 130,000 cbm tankage and will include pipelines connecting the terminal to the cracker complex.
“We’re very excited to support GCGV with this major industrial development in the U.S. This new terminal fits well into our growth strategy for industrial terminals,” Eelco Hoekstra, Chairman of the Executive Board and CEO of Royal Vopak, commented.
Vopak’s industrial terminal and associated infrastructure are expected to be operational consistent with a planned start-up by 2022. Covered with a long-term agreement, the investment is said to be aligned with Vopak’s strategy to focus on industrial terminals and service the chemical industry.