Royal Vopak expands Vopak tank terminal (JTT) in the Port of Jakarta - Indonesia
Royal Vopak announces the expansion with 100.000 cbm for the storage of gasoline and biofuels of the PT Jakarta Tank Terminal (JTT), a joint venture 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 cbm, the company said in its press release.
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, particularly gasoline has been rapidly increasing in Indonesia over recent years and is expected to grow further driven by the economic growth of Indonesia and its growing population. The demand for tank storage facilities is expected to increase both with the expansion of gasoline distribution by existing players as with the market entry of new players.
This expansion will add to the terminal: 8 tanks with a total capacity of 100.000 cbm, 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 Jakarta Tank Terminal (JTT)
The terminal has a storage capacity of 251,025 cbm and enables the distribution of oil products in the greater Jakarta area. The facility has been designed and constructed in compliance with the highest Health, Safety, Security and Environmental standards and with high levels of integrated automation.
PT AKR Corporindo Tbk as the local 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 combined storage capacity of 666,000 KL, spread across Indonesia's archipelago in over 15 sea and river ports. PT AKR Corporindo Tbk., is listed on the Indonesia Stock Exchange since 1994.
Royal Vopak is the world's leading independent tank storage company. Vopak operates a global network of terminals located at strategic locations along major trade routes. With a 400-year history and a strong focus on safety and sustainability, Vopak ensures efficient, safe and clean storage and handling of bulk liquid products and gases for its customers. By doing so, Vopak enables the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the Euronext Amsterdam stock exchange and is headquartered in Rotterdam, the Netherlands. Including its joint ventures and associates, Vopak employs an international workforce of over 5,700 people. As of 16 February 2018, Vopak operates 66 terminals in 25 countries with a combined storage capacity of 35.9 million cbm, with another 3.1 million cbm under development, to be added before the end of 2019.