Aug 03, 2012
Reatile buys stake in tank-storage service providerBack
Reatile Chemicals|Royal Vopak Terminal Durban|South Africa|Energy|Liquid Chemicals|Oil Products|Nelly Magubane|Storage Service Provider
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“We have been courting Vopak for more than two years and now we have made the relationship official,” quipped Reatile Chemicals chairperson Simphiwe Mehlomakulu at a media briefing.
The two companies have been developing growth opportunities in South Africa and, with Reatile Chemicals, Vopak gains a shareholder which contributes the extensive local business experience required for growth.
Vopak is the world’s largest independent tank-storage service provider, specialising in liquid chemicals, gases and oil products.
It operates 84 terminals, with a combined storage capacity of more than 28-million cubic metres, in 31 countries.
Reatile Chemicals is an investment holding company that focuses on mining services, energy and petrochemicals.
“This partnership has a significant black economic-empowerment equity involvement in the petroleum infrastructure of South Africa. There are few black players in the sector, which makes this a commendable transaction,” said the Department of Energy’s director-general, Nelly Magubane.
Edited by: Martin Zhuwakinyu© Reuse this Comment Guidelines
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