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 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. Announcing the JRC operatorship award yesterday, JTC said that the winning BCSS consortium comprises Vopak Terminals Singapore (with a 45 per cent stake), intl engineering firm Geostock SAS (35 per cent) and local engineering group Jurong Consultants (20 per cent). The operator will manage, operate and maintain the ancillary and underground facilities at the JRC, but will not handle the sales and marketing of storage services of the JRC, it added.... Continue Reading