New terminal joint venture in China for Odfjell SE
(Thomson Reuters ONE) -
Odfjell SE has made an agreement to enter into a joint venture via its
subsidiary Odfjell Terminals Asia Pte Ltd (Singapore), with Tianjin Economic-
Technology Development Area (TEDA) via its subsidiary Nangang Port Company to
develop a terminal and marine facilities for bulk liquid chemicals, petroleum
products and gases in the Nangang Industrial Zone (Tianjin) in China. The
initial phase of the joint venture will consist of three deep sea berths and
have a total storage capacity of about 150,000 cubic meters.
The joint venture company will be named Odfjell Terminals Nangang (Tianjin),
whereby Odfjell will hold 49% ownership and hold the operational management. The
initial total investment is estimated to be about USD 160 million. The first
phase will start operations during the second quarter of 2014. The Nangang
Industrial Zone is located about 120 km from Beijing and will become the major
petrochemical complex in the Western Bohai Bay area.
For more information please contact: Jan A. Hammer CEO/President Odfjell SE on
tel: +47 55 27 44 00 or e-mail: jan.hammer(at)odfjell.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Odfjell SE via Thomson Reuters ONE
[HUG#1576814]
Unternehmensinformation / Kurzprofil:
Datum: 11.01.2012 - 13:35 Uhr
Sprache: Deutsch
News-ID 103207
Anzahl Zeichen: 1913
contact information:
Town:
Bergen
Kategorie:
Business News
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