Stolt Forms China Storage JV

Stolthaven Terminals, a Stolt-Nielsen subsidiary, has agreed to form a 50-50 tank storage joint venture at Daxie Island, China with CITIC Daxie Development Co. (Ningbo, China). The jv, Stolthaven Ningbo Ltd., will, in an initial investment phase, spend about $44 million to construct a 204,000-cu meter tank terminal for completion in 2008. The facility will store chemical and oil...

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