LONDON, Jan. 25, 2017 /PRNewswire/ -- VTTI B.V. ("VTTI"), the global independent provider of energy storage, today announces an acquisition of a 230,000 m3 facility in Panama, resulting in a joint venture between VTTI and Global SLI. This deal sees VTTI take a 75% interest in PetroAmerica Terminal, S.A. ("PATSA"), a terminal strategically located on the Pacific side of the country, close to the Panama Canal, with a wide range of refined products storage.
VTTI's expertise and knowledge of the industry as well as its international network will further strengthen the central role PATSA plays in supplying domestic and international markets and enhance its multiple potential growth opportunities. PATSA is a highly regarded regional terminal company with an excellent operating track record.
In addition to this acquisition, VTTI today closes the recently announced transaction with Energia Naturalis Holding (ENNA), comprising 70% of the newly built Adriatic Tank Terminal (ATT) in the Port of Ploce, Croatia. In 2016, ATT completed the construction of 50,000 m3 of clean petroleum product storage. A second stage of development is now expected to commence to deliver a further 200,000 m3 of liquid product capacity, as well as up to 60,000 m3 of LPG capacity.
Rob Nijst, CEO of VTTI commented: "With these two transactions we have hit the ground running in 2017, and we now have an exciting roadmap of growth opportunities ahead of us. These opportunities take us into new geographies, extend our portfolio commercially, and further realise our aim to be a top 3 company in the global terminalling industry, as always in combination with our focus on safe operations."
The company is also currently investing in projects at its existing terminals ETT and ATPC, in Rotterdam and Antwerp respectively, as well as negotiating a new project in South Asia:
- Rotterdam: At the heart of Europe's largest port, VTTI will expand its ETT terminal, adding further capacity of 174,000 m3 to provide flexible product storage.
- Antwerp: VTTI's increasing capability in LPG will be further strengthened by a new refrigerated pressure vessel project at its ATPC terminal, which includes two new spheres of 15,000 m3.
- South Asia: VTTI recently signed a share purchase agreement for a new greenfield terminal project in South Asia. Negotiations are ongoing and the closing of the deal is anticipated to occur at the beginning of March.
VTTI is a fast-growing independent provider of energy storage worldwide. VTTI currently offers over 9 million cubic meters of combined storage capacity across 5 continents. VTTI's terminals are strategically located at major shipping crossroads of the globe as well as in locations that are supply gateways to or from specific oil markets. VTTI benefits from two strong shareholders, Buckeye and Vitol that support VTTI's continued growth as an independent global terminal operator. VTTI is run as a standalone company under the leadership of CEO Rob Nijst. www.vtti.com
About Global SLI
Global SLI is a pioneer and leader in several business areas. Global SLI has its headquarters in Panama and presence in Argentina, Brazil, Kenya, the United States and Uruguay. Global SLI develops its activity with the purpose of promoting business initiatives of international scope that create a real value for local communities. Mr. Guillermo Liberman is the executive president.
Global SLI has been involved in the logistics sector in Panama since 2002 with important facilities at the entrance of the Panama Canal in the Pacific, amongst them, PATSA and a Container Terminal. Global SLI along with strategic partners promotes the development of this key sector for the Panamanian economy with new investments, job creation and the implementation of best practices. www.globalsli.com
PATSA is the operator of refined products terminal with a capacity of approximately 230,000 m3, located in the Rodman area, Province of Panama, Republic of Panama.
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SOURCE VTTI Energy Partners LP