Royal Vopak reveals expansion plans for tank terminal in the Port of Jakarta
Netherlands-headed Royal Vopak, one of the world's leading independent tank storage company's, has revealed the expansion with 100 000 m3 for the storage of gasoline and biofuels of the PT Jakarta Tank Terminal (JTT), a joint venture (JV) company in Indonesia between Royal Vopak and PT AKR Corporindo Tbk (AKR). The expansion will take the total tank capacity of JTT to more than 350 000 m3.
PT AKR Corporindo Tbk, Royal Vopak’s JTT partner, is Indonesia’s leading supply chain and logistics provider for petroleum products and basic chemicals. AKR brings over 5 decades of experience in operating terminals for bulk chemicals and petroleum products and has an extensive network of logistics facilities.
AKR’s infrastructure comprises of tank storage terminals with a combined storage capacity of 666 000 m3, spread across Indonesia’s archipelago in over 15 sea and river ports. Strategically located in Tanjung Priok, the main port of Jakarta, JTT serves the import and distribution market in the greater Jakarta region for fuel products.
The import of fuel products, in particular, gasoline has been rapidly increasing in Indonesia over recent years and is anticipated to grow further driven by the economic growth of Indonesia and its growing population. As a result, Royal Vopak expects the demand for tank storage facilities to increase both with the expansion of gasoline distribution by existing players as with the market entry of new players.
According to a statement, the JTT terminal currently has a storage capacity of 251 025 m3 and the expansion will add to the terminal: 8 tanks with a total capacity of 100 000 m3 for gasoline, ethanol and biodiesel, a vapour recovery unit and additional, in-line blending infrastructure which will facilitate the customers to comply with Indonesia’s Biofuel Blending Mandate regulations.
The investment “fits well” in Vopak’s strategy to facilitate customers in growing import markets and will strengthen JTT’s position as an independent import location for fuels. The expansion is expected to be commissioned in phases from Q1 to Q4 2019.
About Royal Vopak
An independent tank storage company, Netherlands-headed Royal Vopak operates a global network of terminals located at strategic locations along major trade routes. With a 400-year history, the company operates storage and handling of bulk liquid products and gases for its customers ranging from oil, chemicals, gases and LNG to biofuels and vegetable oils.
Including its joint ventures and associates, Royal Vopak employs an international workforce of over 5 700 staff. As of February 16, 2018, the company operates 66 terminals in 25 countries with a combined storage capacity of 35.9 million m3, with another 3.1 million m3 under development, to be added before the end of 2019