Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF) have successfully completed the earlier announced acquisition of three industrial terminals from Dow on the US Gulf Coast. This acquisition was first announced on September 14, 2020.
Dow had selected the new 50/50 joint venture of Royal Vopak and BlackRock’s GEPIF to acquire three major industrial terminals for the amount of $620 million.
The total capacity of the three terminals is 852,000 cubic metres (cbm). The Freeport, Texas, terminal has 53 tanks (140,000 cbm) for storage of chemicals. The St. Charles, Louisiana, terminal has 73 total tanks (409,000 cbm) for storage of chemicals. The Plaquemine, Louisiana, terminal has 30 tanks (303,000 cbm) for storage of chemicals and refined products. The involved assets include 16.4 hectares of expansion land, 36 vessel berths, multiple pipeline connections, rail and truck racks.
The name of the new joint venture is Vopak Industrial Infrastructure Americas LLC, which has a diversified set of infrastructure assets in three locations, with each situated alongside an active Dow production complex.
Vopak Industrial Infrastructure Americas has entered into long-term service agreements with Dow, for storage and infrastructure services. Dow expects Vopak’s terminal expertise and capabilities will deliver additional operational efficiencies and opportunities for growth. For more information visit www.vopak.com