Vitol Tank Terminals B. V. (“VTTI”) and its wholly owned subsidiary Eurotank Belgium B.V., part of the Vitol Group of companies (“Vitol”) today announced that it had completed the acquisition of the 100% interest in Petroplus Refining Antwerp N.V. and Petroplus Refining Antwerp Bitumen N.V. (the “Facilities”) that was previously owned by Universal Holding B.V. and Petroplus International B.V., subsidiaries of Petroplus Holding A.G.
Under the terms of the acquisition Vitol will change the names of the companies to Antwerp Terminal Company N.V. and Antwerp Processing Company N.V. respectively with immediate effect and the Facilities will be jointly known as “The Antwerp Terminal and Processing Company” (“ATPC”).
Rob Nijst, CEO of VTTI, commenting on the completion, said “We are delighted to have completed this transaction in such a quick and efficient way and with the full support of all the team in Antwerp. We have ambitious plans for the site, with a capital investment programme of over $60million, targeted at the retrofit of many of the tanks, as well as jetty and pipeline improvements and a general upgrade of HSE systems and processes. Now we will need to have a critical re-look at each of the various processing units at ATPC”
The Facilities are located in the Port of Antwerp and are connected to an extensive pipeline network and harbour infrastructure providing flexibility for hydrocarbon feedstocks, intermediates and finished products. The Facilities have one of the largest bitumen processing plants in the Benelux region with a capacity of approximately 875,000 tons per annum, a gasoil hydrotreating plant with capacity of 22,300 barrels per day and a tank storage facility with a potential capacity of approximately 450,000 cubic metres after additional investment.
Further details on the Vitol Group can be found at www.vitol.com and on VTTI at www.vtti.com