Royal Vopak to acquire Brazil terminal
Jun 20, 2007 4:50 PM
Royal Vopak, Rotterdam, the Netherlands, plans to acquire a recently built terminal in Suape, Brazil, from the Puma Group, according to Vopak information.
Vopak said that assuming the conditions precedent to the closing of the transaction are fulfilled shortly, Vopak and Puma seek to conclude the transaction by August 1, 2007. The acquisition will allow Vopak to strengthen its market position through additional storage capacity in clean petroleum products and the growing ethanol business.
The new terminal in Suape currently consists of 10 tanks with a total capacity of 83,000 cubic meters (21.9 million gallons. If required, the total area of 3.3 hectares (eight acres) can be utilized to expand the terminalís capacity up to a little over 100,000 cbm (26 million gallons). The facility serves petroleum products and ethanol exports.
Suape, situated in the fast developing Brazilian Northeast, is becoming more and more important for import of clean petroleum products and ethanol exports. There are also future plans for a new refinery in Suape which will stimulate further development of the local chemical industry, Vopak said.
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