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Odfjell forms petrochemical terminal JV in China

8:35 AM MDT | June 26, 2013 | Deepti Ramesh

Odfjell says that its Odfjell Terminals (Rotterdam, Netherlands) affiliate has signed an agreement to enter into a 50-50 joint venture with the Founder Group (Beijing) for the development of a petrochemical tank terminal at Quanzhou, Fujian Province, China. Odfjell Terminals is a jv owned 51% by Odfjell and 49% by private equity firm Lindsay Goldberg (New York). Odfjell Terminals, under the agreement, will acquire from the Founder Group a 50% equity share in the existing Fujian Fangtong Terminals Co., including the land and an existing jetty at a price of $21...

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