Vopak to expand biofuels storage capacity in Malaysia terminal JV
Dutch tank storage firm Vopak said it would expand its biofuels storage capacity at the Malaysia Pengerang Terminal Two (PT2SB), in line with a company strategy to drive energy transition.
Shareholders in the PT2SB joint venture are Vopak Terminal Pengerang, Dialog Equity (Two), PRPC Utilities and Facilities, and Permodalan Darul Ta'zim.
Vopak said in a statement on Wednesday that the capacity would be expanded by 272,000 m3. A company spokesperson said the capacity would be linked with a bio-refinery operated by existing customer Pengerang Biorefinery.
Vopak's share of investment in the project totals €72 MM (about $82 MM).
The investment aligns with Vopak's strategy to enable more infrastructure that supports energy transition, while strengthening the industrial position the terminal has in the Singapore Straits, the company said.
($1 = €0.875)
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