Singapore: Norway's Stolt-Nielsen has announced plans to build a 325,000 cubic mtr chemicals storage terminal on Jurong Island by mid-2010. The terminal is estimated to cost over $100m and is slated to be a regional distribution hub for chemical products and feedstocks from the Middle East, as well as for chemical products ex-Jurong Island.
The project, which is likely to be one of the last tankfarms allowed on the petrochemicals island due to space restrictions, is to be undertaken by the group's Tankers & Terminals division and has already received approval from the Economic Development Board, the company said in a recent statement.
'We are pleased to have been chosen as the preferred chemical logistics service provider, which opens the way for the construction of a new state-of-the-art terminal to meet the growing needs for bulk-liquid storage of chemical manufacturers and customers in South-east Asia, said Stolt-Nielsen Asia-Pacific managing director Andrew Pickering
The project is subject to a number of additional agreements with Singapore authorities, as well as to its own board approval. [16/07/08]
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