New Straits Times - - Business -

WEIFANG (China): Weifang Sime Darby Port Co Ltd launched its liq­uid ter­mi­nal on Wed­nes­day, which ex­panded its range of ser­vices to pro­vide stor­age and use of ter­mi­nal fa­cil­i­ties for bulk oil and chem­i­cals at the port.

The Weifang Sime Darby Liq­uid Ter­mi­nal is a state-of-the-art ter­mi­nal project de­signed to meet the high­est safety re­quire­ments for bulk oil and chem­i­cals stor­age and dis­tri­bu­tion.

Weifang Sime Darby Liq­uid Ter­mi­nal Co Ltd (WSDLT) vicechair­man Ti­mothy Lee Chi Tim said the ter­mi­nal was part of its 2.8 bil­lion yuan (RM1.8 bil­lion) master ex­pan­sion plan, which would put it on the roadmap to achiev­ing its aim of be­com­ing a sig­nif­i­cant multi-pur­pose port in the North­east Asian re­gion.

“The launch of our liq­uid ter­mi­nals is timely to cap­ture the grow­ing mar­ket for crude and re­fined oil as well as chem­i­cals in China. These com­modi­ties have ben­e­fited from the grad­ual lib­er­al­i­sa­tion of im­port and ex­port poli­cies in China,” he said.

The stor­age and ter­mi­nal fa­cil­i­ties at Weifang Port will be de­vel­oped in phases.

Phase One with a max­i­mum stor­age ca­pac­ity of 406,000 cu m is al­ready op­er­a­tional, while Phase Two with a max­i­mum stor­age ca­pac­ity of 91,000 cu m will be ready and op­er­a­tional in Oc­to­ber.

The fi­nal phase with a ca­pac­ity of 164,000 cu m is cur­rently un­der con­struc­tion and is ex­pected to be com­pleted in the first half of 2019.

The liq­uid ter­mi­nal will be con­structed, man­aged and op­er­ated by WSDLT, a joint-ven­ture com­pany owned in equal parts by Sime Darby Over­seas (HK) Ltd (SDOHK) and Dragon Crown Group Hold­ings Ltd.

SDOHK is the hold­ing com­pany for WSDLT and all units op­er­at­ing within Sime Darby Lo­gis­tics, a di­vi­sion within the Sime Darby Group.

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