Kerteh Liquid Bulk Terminal

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PETRONAS, the Malaysian state-owned petroleum conglomerate, signed a shareholders' agreement with GATX Terminals (Pte) Ltd and Dialog MCV Sdn Bhd in Mar. 1997 for a centralised bulk chemical storage terminal project in Kertih, Terengganu. Under the agreement, PETRONAS, GATX Terminals and Dialog MCV will participate in a new joint venture company which will build, own and operate the terminal that will provide centralised services for the handling, storage and distribution of chemical and petrochemical feedstocks, products and by-products to PETRONAS' joint venture petrochemical plants as well as other customers in Kampung Tok Arun and Kertih. PETRONAS will own 40% of the joint venture company while GATX Terminals and Dialog MCV will each hold 30 per cent. GATX Terminals is an associate company of US-based GATX Terminals Corporation while Dialog MCV is a partnership between Dialog Group Bhd and Malaysian Capital Ventures Sdn Bhd. The RM 300 million terminal, which is PETRONAS' first centralised terminal facility project, will occupy a 32.3ha waterfront area adjacent to the existing PETRONAS' Kertih Marine Facilities. The terminal was built in phases over two years with initial operations scheduled for the third quarter of 1999. Full operation was expected to commence in 2000. Once fully operational, the terminal was expected to have an annual volume throughput of about 2.7 million metric tonnes. None None