Vopak and BlackRock's GEPIF successfully completed the acquisition of three industrial terminals from Dow on the U.S. Gulf Co...
02 Dezember 2020 - 7:00AM
Vopak and BlackRock's GEPIF successfully completed the acquisition
of three industrial terminals from Dow on the U.S. Gulf Coast
Vopak and BlackRock's GEPIF successfully completed the
acquisition of three industrial terminals from Dow on the U.S. Gulf
Coast
Rotterdam, the Netherlands, 2 December 2020
Royal Vopak and BlackRock's Global Energy & Power
Infrastructure Fund (GEPIF) successfully completed the earlier
announced acquisition of three industrial terminals from Dow (NYSE:
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. About Vopak Royal
Vopak is the world’s leading independent tank storage company. We
store vital products with care. With over 400 years of history and
a focus on sustainability, we ensure safe, clean and efficient
storage and handling of bulk liquid products and gases for our
customers. By doing so, we enable the delivery of products that are
vital to our economy and daily lives, ranging from chemicals, oils,
gases and LNG to biofuels and vegoils. We are determined to develop
key infrastructure solutions for the world’s changing energy
systems, while simultaneously investing in digitalization and
innovation. Vopak is listed on the Euronext Amsterdam and is
headquartered in Rotterdam, the Netherlands. For more information,
please visit www.vopak.com. About BlackRockBlackRock’s
purpose is to help more and more people experience financial
well-being. As a fiduciary to investors and a leading provider of
financial technology, our clients turn to us for the solutions they
need when planning for their most important goals. As of September
30, 2020, the firm managed approximately $7.81 trillion in assets
on behalf of investors worldwide. For additional information on
BlackRock, please visit www.blackrock.com | Twitter: @blackrock |
www.linkedin.com/company/blackrock. For further information
please contact: Vopak Press Liesbeth Lans, Manager
External Communication, Telephone : +31 (0)10 4002777, e-mail:
global.communication@vopak.comVopak analysts and investors
Laurens de Graaf, Head of Investor Relations Telephone : +31 (0)10
4002776, e-mail: investor.relations@vopak.com
BlackRockCurtis Chou, Corporate
Communications Telephone: +1 646-231-1031, e-mail:
curtis.chou@blackrock.com
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