Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF) have acquired three industrial terminals on the U.S. Gulf Coast from Dow for $620 million.
The new 50/50 joint venture consisting of Royal Vopak and BlackRock’s GEPIF will be known as Vopak Industrial Infrastructure Americas. It has a diversified set of infrastructure assets in three locations, each situated alongside an active Dow production complex.
As part of the deal, Vopak Industrial Infrastructure Americas has entered into long-term service agreements with Dow, for storage and infrastructure services.
The terminal in Freeport, Texas, includes 53 tanks with 140,000 cubic meters (cbm) for storage for chemicals; the St. Charles, La., terminal has 73 tanks with 409,000 cbm for storage for chemicals; and the The Plaquemine, La., terminal has 30 tanks with 303,000 cbm for storage of chemicals and refined products.
The involved assets include 16.4 hectares of expansion la