Home / Knowledge / News / Textiles / Vopak acquires 30% share in Haiteng's industrial terminal
Vopak acquires 30% share in Haiteng's industrial terminal
11
Mar '14
Royal Vopak (Vopak) announces it has signed an Equity Transfer Agreement with Xianglu Petrochemical (Zhangzhou) Co., Ltd. (Xianglu) in Fujian province, China. The agreement comprises Vopak’s acquisition of a 30% equity interest in Zhangzhou Gulei Haiteng Jetty Investment Management Company Limited (Haiteng). 
 
Haiteng owns an industrial terminal, commissioned in 2013, consisting of 890,000 cbm storage capacity for petrochemical products. Long-term contracts have been signed for this industrial terminal to serve two petrochemical plants via pipelines. 
 
As part of the agreement, the terminal will be operated according to the Vopak safety, technical and operational standards. For Xianglu, the partnership further strengthens the reliability and efficiency of the industrial terminal, whilst for Vopak, this partnership will further expand its regional market position, fully in line with its growth strategy in China. 
 
Haiteng is situated in Gulei Industrial Park, in the Southeast of China, ranking as one of the top natural deep draft ports in the country. Supported by the central government and the Fujian province, Gulei Industrial Park has ambitious plans to attract additional petrochemical industry in the coming years. 
 
The closing of this acquisition is subject to regulatory approvals and registrations and is expected to be finalized in 2014. 
 
 

Vopak

Must ReadView All

Courtesy: CLO Virtual Fashion

Information Technology | On 9th Dec 2016

CLO expands 3D simulation technology in Europe

CLO Virtual Fashion, developers of 3D garment visualisation...

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search