Jakarta Tank Terminal (JTT) of AKR Corporindo (AKRA IJ) was inaugurated yesterday by Hatta Rajasa, the Coordinating Minister for Economic Affairs and Mustafa Abubakar, minister of state-owned companies.
The 250,000kL terminal is the first independent petroleum terminal for oil products and the project is a JV between AKRA (51%) and Royal Vopak (49%). Vopak is the operator; the company is the world's largest independent tank storage service provider, specialized in the storage and handling of liquid chemicals, gasses and oil products.
Vopak operates 80 terminals with a combined storage capacity of more than 28 million cbm in 31 countries. Further expansion includes additonal capacity 200,000kL. JTT is part of AKRA's Logistic business, and is expected to contribute 4-5% to total AKRA's gross profit this year.
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