Company Briefs

Rotary may buy stake in storage terminal

A WHOLLY owned subsidiary of Rotary Engineering Limited has proposed to acquire a 10 per cent stake in an Indonesian bulk storage terminal for petroleum products for US$1.15 million and a loan of US$18.2 million. ORO Storage Asset Management Pte Ltd is in the process of finalising the investment, which will serve as a distribution terminal to the rest of Indonesia. Rotary Engineering said on Tuesday that the investment has secured a long-term contract that will ensure optimal utilisation of the terminal.

Vallianz acquiring OER Hldgs for US$27.7m