German Firm Acquires Stake in Chinese Industrial Park

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Researched by Industrial Info Resources (Sugar Land, Texas)--Chemical logistics firm Oiltanking (Hamburg, German), the world's second-largest independent oils and liquid chemicals storage company, has acquired a 60% stake in the Xiba storage terminal in the Nanjing Chemical Industrial Park (NCIP) in southern China's Jiangsu Province. The original NCIP Xiba Petrochemical Logistics Company Limited was renamed Oiltanking (Nanjing) Company Limited.

Oiltanking plans to build one 30,000-ton, three 50,000-ton jetties and 800,000 square meters of tank capacity of various petrochemical liquids. Construction has begun for Phase I, which is expected to come on stream in June 2008. Phase I involves an investment of $29.8 million for a 30,000-ton jetty for petrochemical liquids and 74,000 cubic meters of tank capacity for the storage and handling of liquid chemicals.

Oiltanking (Nanjing) will also own and operate a jetty with various berths of up to 50,000 dead weight tons.

NCIP is located along the Yangtze River in the heart of eastern China's chemical market. By entering NCIP, Oiltanking will offer independent storage solutions to existing and future chemical manufacturing customers through the present pipe rack connection.

Nanjing is the last port of call for sea-going vessels on the Yangtze River. It is a transshipment hub for onward barge transportation upstream of the river. Located inside Nanjing, NCIP can take advantage of Nanjing's excellent road system and railways, connecting it with northeastern China.

Oiltanking was founded in 1972. After more than three decades of development, Oiltanking now owns 74 terminals in 19 countries and regions in the globe, its total storage capacity amounts to 11 million cubic meters, and the number of berths is approaching 1,000. Oiltanking is owned by Marquard & Bahls AG (Hamburg, Germany), a leading privately owned petroleum company.

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