Singapore to develop new liquid bulk terminal to support growing petrochemical storage needs

07-Dec-15

Jurong Port has inked a joint venture agreement with Oiltanking to develop, own and operate a new liquid bulk terminal that will be located opposite Jurong Island, as per www. sbr.com.sg. The new liquid bulk terminal will be located on 16 hectares of existing land in Jurong Port, and will have an initial capacity of 200,000 cubic metres (cbm), with the potential to add another 230,000 cbm, for a total capacity of 430,000 cbm. It will be designed to store and handle both clean petroleum products and chemicals. The new liquid bulk terminal will support the increasing demand of storage needs in Singapore with its integration to Jurong Island, Asia’s petrochemical industry hub. Jurong Port will hold 60% of the shares in the joint venture and Oiltanking Singapore 40%.