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Feb 1, 2008 3:23 PM

Oiltanking GmbH, Hamburg, Germany, is planning the development of a new deep-water petroleum terminal in the South of France with storage capacity of 800,000 cbm (about 5.03 million barrels), according to Oiltanking information.

The site will be located in the Cavaou sector of Fos sur Mer and will be suitable for the storage of a wide range of petroleum products, as well as for vessels with a draft of up to 20 meters (about 65 feet). The facility is expected to be operational in 2010.

Oiltanking will be the majority shareholder and operating partner in the joint venture with the French industrial Group Mediaco, which already has independent storage activities in the Port of Marseille.