Mining, energy and petrochemicals company Reatile Chemicals, part of the Reatile group, has bought a 30% noncontrolling interest in Royal Vopak Terminal Durban.
“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
Creamer Media Senior Deputy Editor
EMAIL THIS ARTICLE