Xiamen Liquid Bulk Terminal

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Xiamen Paktank Company Limited, a joint venture between the Chinese Fujian Petroleum Corporation (40%), the Dutch Paktank International BV, Rotterdam (40%), and the Hong Kong based Daxin Petroleum (China) Limited (20%), officially opened Phase-1 of its oil storage facilities on April 18th 1997. The Letter of Intent for the Joint Venture was signed on March 18th 1993, construction of the jetty- and terminal facilities started on November 15th 1995. The terminal became operational on February 27th 1997, by receiving its first 40,000 ton gasoil cargo. Phase-1 of the project consist of 100,000 m3 oil storage terminal for high and low flash clean petroleum products, including jetty facilities for vessels as of 1000 DWT up to 100,000 DWT, and eight (8) loading platforms for road tank trucks. In 1999 the terminal will be connected with the national rail network. Up to 100,000 m3 additional tank capacity for both clean and black petroleum products will become operational in the first quarter of 1998. Total investment of Phase 1 and 2 is approximately US$ 70 million. Further expansion is planned to serve also the chemical- as well LPG industries. The final storage capacity is expected to be approximately 600,000 m3 for petroleum- and (petro)chemical- products and LPG. None None