Oiltanking Singapore Chemical Storage, a joint venture between Oiltanking and Macquarie Infrastructure and Real Assets (MIRA), is making additional propylene tanks for Shell Eastern Petroleum (Shell) in Singapore. It has signed a long term storage agreement with Shell. Oiltanking is an independent operator of tank terminals for oils, chemicals and gases.
With the existing C3 system at Oiltanking Singapore Chemical for SHELL, this new addition of two propylene bullet tanks will complement and strengthen the strategic partnership between Shell and Oiltanking Singapore Chemical.Oiltanking Singapore Chemical Storage, a joint venture between Oiltanking and Macquarie Infrastructure and Real Assets (MIRA), is making additional propylene tanks for Shell Eastern Petroleum (Shell) in Singapore. It has signed a long term storage agreement with Shell. Oiltanking is an independent operator of tank terminals for oils, chemicals and gases.#
Securing this new expansion for propylene, a key feedstock for Jurong Island, Oiltanking Singapore Chemical further anchored its position as a key chemical/propylene hub and integrated logistics and service provider for feedstock.
With the new additional bullet tanks, the state-of-the-art terminal will offer 84 tanks with individual storage capacity ranging from 800 cbm to 18,000 cbm, equivalent to a total storage capacity of 409,000 cbm.
Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent operators of tank terminals for oils, chemicals and gases worldwide. The company owns and operates 76 terminals in 25 countries with a total storage capacity of 20 million cbm, on five continents – in Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region.
Macquarie Infrastructure and Real Assets (MIRA) is part of Macquarie Asset Management Group, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management, banking, advisory and risk and capital solutions across debt, equity and commodities. (SV)
Fibre2Fashion News Desk – India
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