Published: 07:05 CET 17-02-2017 /GlobeNewswire /Source: Royal Vopak / : VPK /ISIN: NL0009432491
Today Royal Vopak and its partner Reatile announce that the investment decision has been taken to further expand their activities in South Africa. In line with previous expansions this investment aims to enhance Vopak's infrastructure to help meet South Africa's increasing demand for petroleum products. It will improve the security of fuel supply by facilitating the import of cleaner fuels into South Africa. The expansion comprises the following two projects:
- A new 100,000 cbm inland terminal in the Gauteng province (Johannesburg) connected to Vopak Terminal Durban via the Transnet Multi Product Pipeline.
- An expansion of Vopak Terminal Durban with 130,000 cbm.
The new state-of-the art inland terminal will be built in Lesedi, located in the Gauteng province (Johannesburg). The new terminal will consist of six tanks of in total 100,000 cbm, eight truck loading bays with a vapour recovery system and a pipeline connection to the state-owned New Multi Product Pipeline (NMPP) for refined petroleum products (petrol and diesel). The NMPP is running from the Port of Durban to Gauteng where currently around 70% of South Africa's fuel demand is concentrated. The pipeline reduces the need for road transport from Durban to Gauteng with trucks, giving customers a more cost-effective, scalable, safe and environmentally friendly way to supply this important region. Vopak Terminal Durban and Vopak Terminal Lesedi will be the first major open access independent tank terminals connected to the NMPP, connecting the Port of Durban with the Gauteng province.
The expansion of Vopak Terminal Durban will comprise 10 new state-of-the art tanks with a total capacity of 162,000 cbm as well as the demolition of 38 older small tanks. The net increase in capacity will be 130,000 cbm. Furthermore, investments will also be made in three additional truck loading bays connected to the existing vapour recovery system, additional (berth) pipelines and a new marine loading arm. Upon completion, the total capacity of Vopak Terminal Durban will amount to 371,926 cbm.
Vopak Terminal Durban (Pty) Ltd. is a partnership between Royal Vopak (70%) and Reatile Chemicals (30%). Vopak Terminal Durban is well connected via pipelines to the (refining) industry in the Port of Durban.
Royal Vopak is the world's leading independent tank storage provider for the oil and chemical industry. As of 17 February 2017, Vopak operates 67 terminals in 25 countries with a combined storage capacity of 34.7 million cbm, with another 3.8 million cbm under development, to be added before the end of 2019. Vopak's purpose is to store vital products with care. Vopak provides safe, efficient and clean storage and handling services of bulk liquid products and gases at key marine locations that are critical to its customers around the world. The majority of its customers are companies operating in the oil, chemicals and gas sector, for which Vopak stores a large variety of products destined for a wide range of industries. Vopak's strategic focus is on four categories of terminals: Major hubs supporting intercontinental products flows, Terminals facilitating growth in global gas markets, Import distribution terminals in major markets with structural deficits, Industrial and chemicals terminals in the Americas, the Middle East and Asia.
Profile Reatile Chemicals
Reatile Chemicals (Pty) Limited is part of the Reatile Group; a black-owned and managed investment holding company formed in 2003. The founding members of Reatile, through their family trusts, maintain a controlling stake in the group, which ensures that they are focused exclusively on the fulfilment of its vision and strategic objectives. Reatile Group has three main focus areas: mining services, energy and petrochemicals. The founding members are all engineers with extensive careers and executive experience in these chosen sectors.
For more information, please contact:
Liesbeth Lans, Manager External Communication,
Telephone : +31 (0)10 4002777, e-mail: firstname.lastname@example.org
Analysts and investors
Chiel Rietvelt, Head of Investor Relations,
Telephone : +31 (0)10 4002776, e-mail: email@example.com
This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Royal Vopak, Westerlaan 10, ROTTERDAM 3016 CK, NETHERLANDS
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