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Vopak acquires 30% stake in petrochemical terminal in China

6:29 AM MDT | March 10, 2014 | Deepti Ramesh

Vopak says that it has signed an equity transfer agreement with Xianglu Petrochemical Zhangzhou (Zhangzhou, China), a subsidiary of Xianglu Petrochemicals (Xiamen, China), under which Vopak will acquire a 30% stake in Zhangzhou Gulei Haiteng Jetty Investment Management (Gulei, China). Zhangzhou Gulei Haiteng owns an industrial terminal, commissioned in 2013, consisting of 890,000 cubic meters of storage capacity for petrochemical products. The acquisition is expected to close later this year. Financial details of the deal have not been disclosed. Zhangzhou Gulei...

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