Vopak and BlackRock complete acquisition of 3 Dow terminals in U.S. Gulf Coast
Royal Vopak, the world’s leading independent tank storage company, and BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF) have successfully completed the acquisition of three major industrial terminals from Dow in the U.S. Gulf Coast. This acquisition was announced on 14 September 2020.
Dow had selected the new 50-50 joint venture of Royal Vopak and BlackRock’s GEPIF to acquire these three major industrial terminals in the U.S. Gulf Coast forof USD620 million. The name of the new joint venture is Vopak Industrial Infrastructure Americas, LLC, which has a diversified set of infrastructure assets, in three locations, with each situated alongside an active Dow production complex.
Vopak Industrial Infrastructure Americas has entered into long-term service agreements with Dow, for storage and infrastructure services. Dow expects Vopak’s terminal expertise and capabilities will deliver additional operational efficiencies and opportunities for growth.
The total capacity of the three terminals is 852,000 cubic meters (cbm). The Freeport, Texas, terminal has 53 tanks (140,000 cbm) for storage of chemicals. The St. Charles, Louisiana, terminal has 73 total tanks (409,000 cbm) for storage of chemicals. The Plaquemine, Louisiana, terminal has 30 tanks (303,000 cbm) for storage of chemicals and refined products. The involved assets include 16.4 hectares of expansion land, 36 vessel berths, multiple pipeline connections, rail and truck racks.