VTTI, one of the world’s largest energy storage providers, today announced its acquisition of a 50% interest in a 119,200 m3 chemicals storage terminal in Dalian, China, from Odfjell Terminals. Located in Dalian’s New Port, China, the other 50% stake of the terminal remains with strong local partner, Port of Dalian (PDA).
This acquisition marks VTTI’s first step into China, the largest petrochemical market in the world. The facility broadens the VTTI chemicals storage portfolio, while also unlocking further growth opportunities in the region.
The Dalian terminal is highly regarded within the Chinese terminal industry, renowned for its excellent HSE, operational track record and customer relations. The receiving capabilities of the terminal allow customers to have high throughputs, guaranteeing the smooth flow of their operations. Joint venture partner PDA has 11 million cubic meters of storage capacity in the region, with a large and growing railway and pipeline network.