Vopak-led group to run 1st phase of Jurong Rock Cavern

[SINGAPORE] After a vigorous two-stage selection process which took as many years, a Vopak-led consortium has won a 15-year deal, worth about $200 million, from JTC Corporation to run the $890 million first phase of the Jurong Rock Cavern (JRC).

The operatorship award for the underground oil/chemicals storage to the Banyan Caverns Storage Services (BCSS) consortium is the latest feather in the cap of the Dutch terminal operator, which just last month said that it will build an LPG terminal on Jurong Island to import the alternative liquefied petroleum gas feedstock for the largely naphtha-fuelled petrochemical crackers here.

Both the underground JRC - which provides crucial storage on land-challenged Jurong Island - and the LPG terminal are crucial pieces in the Singapore government's Jurong Island version 2.0 plan to help boost the competitiveness of the petrochemicals industry here.