Trafigura joint venture Impala Terminals Group has bought an insolvent oil storage terminal in Rotterdam port as part of an upgrade plan.
The trading giant said Impala acquired the HES Hartel Tank Terminal site at auction.
No price was revealed, but Trafigura said the facility will be renamed Impala Energy Infrastructure Netherlands.
The venture plans to turn the site into a major asset for the region, with 1.3m cbm of storage capacity for bulk liquid, strengthening the ports role as a key strategic hub for the international trade of essential commodities.
Impala will provide additional investment of between 90m and 100m ($98m-$109m) over the next two years to complete its rebuild.
This will involve more than 50 tanks, berths capable of…
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