19th August 2009

Vitol Tank Terminals International B.V. enters a joint venture agreement with MISC Berhad

Location:

Vitol Tank Terminals International B.V. (“VTTI”), part of the Vitol Group, entered into a joint venture agreement today with MISC Berhad (“MISC”) to incorporate a joint venture company on an equal partnership basis. The joint venture company, Asia Tank Terminal Limited, will hold 100% equity interest in an oil terminal in Tanjung Bin, located in south-west Johor, Malaysia. 

The terminal company, ATT Tanjung Bin Sdn. Bhd. executed a long-term lease agreement with Seaport Worldwide Sdn. Bhd. in September 2008 for 50 hectares of land at the Tanjung Bin Petroleum and Maritime Industry Centre. The terminal company will design, construct, commission and operate a 741,200 cbm terminal for storage of fuel oil, middle distillates and light distillates. 

Signing on behalf of VTTI was its CEO, Mr. Rob Nijst and on behalf of MISC was its President/CEO, Mr. Amir Hamzah Azizan.

The terminal, subject to receiving the necessary approvals by the relevant Malaysian regulatory authorities, is anticipated to commence operations in April 2012.

More details on the Vitol group can be found on www.vitol.com.
More details on VTTI can be found on www.vtti.com.

For further information: Finsbury Group; Andrew Mitchell + 44 207 251 3801
 
Contact Person for MISC: Mdm. Fiona Clare Pereira; General Manager, Corporate Affairs Department, MISC Berhad. E-mail: fclarepe@miscbhd.com

 

News Archive:

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27th May 2010

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17th May 2010

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29th April 2010

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2nd March 2010

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12th January 2010

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31st December 2009

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