30-07-2025
- Business
- New Straits Times
Dutch energy firm Vopak expands Pengerang terminal for biofuels growth
KUALA LUMPUR: Dutch energy storage company Vopak will expand its capacity at the Pengerang Terminal (Two) Sdn Bhd (PT2) in Malaysia by 272,000 cubic metres to support the storage of biofuels feedstocks and products.
In its latest financial results, Vopak said the decision is backed by a long-term take-or-pay agreement with an existing customer operating a nearby biorefinery.
The new capacity will be industrially integrated with the customer's facility, creating operational synergies.
The total investment for the project is EUR282 million (about RM1.46 billion), of which Vopak's share amounts to EUR72 million.
The company expects the expansion to begin contributing to its operating cash flow once commissioned by mid-2028.
Vopak said the move aligns with its long-term strategy to accelerate the development of infrastructure that supports the global energy transition.
