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Aug 7, 2007 9:24 AM

Royal Vopak (Vopak), Rotterdam, the Netherlands, now has a revolving credit line with a banking syndicate of 12 international relationship banks to be used for supporting Vopak's growth strategy, according to company information.

The estimated value of the new credit line is 1 billion Euros (about $1.38 billion). This comes on the heels of a $375 million credit line that was negotiated in May.

Vopak is an independent tank terminal operator specializing in the storage and handling of liquid and gaseous chemical and oil products. The company operates 75 terminals with a storage capacity of more than 21 million cubic meters (about 132.08 million barrels) in 30 countries.