Vopak buys into Chinese Sealink

Royal Vopak, based in Rotterdam, the Netherlands, said it has bought a 50% stake in Chinese Sealink Storage Co. from Merit, a subsidiary of China’s industrial investment company Lanwa Group. Financial details were not disclosed. The acquisition is in line with the planned construction of a storage terminal for chemicals and clean petroleum products on China’s Lisha island, Vopak said. Sealink owns land in the area and has permission to build and operate a bulk liquid storage terminal. The terminal will have an initial capacity of 153,000 cu meters and is scheduled to start operating in the third quarter of 2011. The terminal’s capacity could reach 400,000 cu m over time, according to Vopak. (May 27, 2010)