WEIFANG SIME DARBY LAUNCHES LIQUID TERMINAL

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.