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26 April 2019 The on-line newspaper devoted to the world of transports 06:16 GMT+2



April 8, 2019

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Vopak will sell own terminals to Algeciras, Amburgo and Amsterdam to First State Investments

The transaction will have a value of 723 million euros

After to have announced the decision to yield own quota 50% of the capital of the society that manages the great oil terminal in the Estonian port of Muuga(on 3 April 2019), the terminalista group Dutch Vopak has communicated to have agreed the cession of own terminals for liquid bulk in the ports of Algeciras, Amburgo and Amsterdam to First State Investments, division for the international investments of the Colonial Global First State Asset Management. The agreement assigns to the transaction a value of 723 million euros. According to the forecasts, the cessions will be realized in the course of the second half of this year.

The three terminals have a total storage capability pairs to 2,29 million cubic metres, of which 1,2 million to the terminal in the port of Amsterdam, 669 thousand to Amburgo and 403 thousand cubic metres to Algeciras.

The managing director of the Vopak, Eelco Hoekstra, has explained that these cessions are framed in the strategy of the company and the alignment of its pocketbook that - it has specified - is based in the long term on developments of market. "Our main objective - it has moreover specified - is to ulteriorly strengthen our position in the main industrial districts of Rotterdam and Antwerp. Currently - Hoekstra has remembered - we have in course the construction more than two million than cubic metres ability and will announce new projects in order to widen our pocketbook with a focus on the fields of the industry, chemistry and the gasieri terminals and in order to maintain to our strategic position in centers hub".

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