Independent journal on economy and transport policy
07:30 GMT+2
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Centralised Terminals and CAO will realize a terminal for producing oil in press of the port malaysian of Tanjung Langsat
It will have an ability to 380.000 cubic metres
October 6, 2011
Today the shipowning group malaysian MISC and the compatriot Dialog Group, logistics society that work for the industry of the oil and the gas, through their joint venture Centralised Terminals Sdn Bhd (CTSB) has signed a share pact with China Aviation Oil (Singapore) Corporation (CAO) in order to constitute joint venture Langsat Terminal (Three) Sdn Bhd (LgT-3) that it will have the task to plan, to develop and to manage a terminal for producing oil of the ability to 380.000 cubic metres situated in presses of the port malaysian of Tanjung Langsat.
CTSB, that it is participated with 55% from Dialog and 45% from MISC, will stop 74% of the capital stock of Langsat Three Terminal, while CAO will possess remaining 26%. Moreover CAO will sign a Terminal Usage Agreement with Langsat Three Terminal for the rent of the entire ability to the new terminal and the relative structures for an initial period seven-year-old.
Currently CTSB work a cisterniero terminal to Tanjung Langsat that has an ability to 476.000 cubic metres that represents the first phase (Langsat Terminal (One) Sdn Bhd) of the project. É about to realization a second phase (Langsat Terminal (Two) Sdn Bhd), adjacent to the first, that it will be completed within the end of this year. The third Langsat phase Terminal (Three) Sdn Bhd will be started at the beginning of the next completed year and within the end of 2013. The total costs of the project will be of about 371 million ringgit (117 million dollars).
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