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NEWS BULLETIN
STORAGE TERMINALS
OT OUT OF SA PLAN
Oiltanking Grindrod Calulo has pulled out of the Ngqura project in South Africa, saying that it “has not been able to achieve a commercially viable business case” for the proposed terminal development. “The evolving market and commercial requirements for a reduced terminal capacity and land could not be accommodated in the parameters of the TNPA procurement process,” the company states. Oiltanking Grindrod Calulo, a joint venture involving Oiltanking, Grindrod and Calulo Investments, was awarded preferred bidder status in 2011 by Transnet National Ports Authority (TNPA) to develop a bulk liquids storage terminal in the port of Ngqura; the plan was that this should replace the existing fuel import terminal in Port Elizabeth. www.oiltanking.com CASH FOR STATIA
Prostar Capital has secured a $15m coinvestment from an unnamed institutional infrastructure investor, building on a previous commitment that will see the investor take a minority shareholding in GTI Statia, the crude oil and refined products terminal on
HCB MONTHLY | JANUARY 2021
the Dutch Caribbean island of St Eustatius (above). The investment will help accelerate a $100m programme to improve the site over the next two years, which includes tank refurbishments and upgrades to marine infrastructure. Prostar and GTI Statia intend to increase the in-service capacity at the terminal to attract several new customers. The plan aims to improve the facility’s flexibility, a critical factor for storage operators, by enabling the transition to low-sulphur marine fuel as dictated by the IMO 2020 regulations. The investment is also expected to increase the demand for local skilled labour and to attract a key workforce to the island in order to optimise the terminal. “We’re excited to receive this ongoing support from our investors as we embark on a shared vision to enhance the performance of GTI Statia’s existing infrastructure and attract new, global long-term customers that recognise the strategic value of this terminal in the global energy trading value chain,” says Steve Bickerton, senior managing director of Prostar Capital. gtistatia.com www.prostarcapital.com
JUBAIL TAKES CHEMTANK STAKE
Sabic and Vopak have agreed to sell a 20 per cent stake in their jointly owned Jubail Chemical Storage and Services Company (Chemtank) to Jubail and Yanbu Industrial Cities Co ( JYIC); on completion, Sabic will retain a 58 per cent holding and Vopak 22 per cent. The transaction is subject to regulatory approvals. JYIC is owned by the Royal Commission for Jubail and Yanbu and the deal is said to be in line with Saudi Arabia’s National Industrial Development and Logistics Programme. Chemtank operates a 568,000-m3 tank terminal in the King Fahd Industrial Port in Al-Jubail and serves the local petrochemical plants, including Sabic and Sadara. www.vopak.com IMTT CHANGES HANDS
Macquarie Infrastructure Corp (MIC) has agreed to sell its International-Matex Tank Terminals (IMTT) business to an affiliate of Riverstone Holdings for some $2.685bn in cash and assumed debt. The deal is expected to close in early 2021, subject to approvals and other conditions. IMTT owns 19 bulk liquids storage terminals in the US and Canada.
