Vopak & BlackRock's GEPIF Complete Acquisition of 3 Terminals from Dow

Source: www.gulfoilandgas.com 12/2/2020, Location: North America

Royal Vopak and BlackRock's Global Energy & Power Infrastructure Fund (GEPIF) successfully completed the earlier announced acquisition of three industrial terminals from Dow on the U.S. Gulf Coast. This acquisition was announced on 14 September 2020.

Dow had selected the new 50/50 joint venture of Royal Vopak and BlackRock's GEPIF to acquire three major industrial terminals on the U.S. Gulf Coast for the amount of USD 620 million. 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.

The total capacity of the three terminals is 852,000 cubic meters (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.


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