Business

Jurong Port, Oiltanking in joint venture

Jurong Port has launched a joint venture with Oiltanking for a liquid bulk terminal in a move that will help boost Singapore's status as an international maritime energy and chemicals hub.

The joint venture Jurong Port Tank Terminals (JPTT) - owned and developed by the two parties - will sit on 16ha of land in Jurong Port, with a total capacity of 480,000 cubic metres to cater to the storage and trading of clean petroleum products.

The terminal will be supported by four jetties with draft of up to 17.6m capable of handling vessels up to 180,000 deadweight tonnage.

Jurong Port chief executive Ooi Boon Hoe said at the launch event yesterday that the construction of JPTT started in May this year, and is on track to be completed by 2019.

He added that prospective demand for the terminal's facilities is upbeat - so much so that they are considering "bringing forward its completion to fulfil anticipated demand even earlier". - THE STRAITS TIMES

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