Asia/Pacific News
Jurong Port Completes Acquisition of Hin Leong Universal Terminal Stake
Monday March 22, 2021
Singapore port operator Jurong Port has completed its acquisition of the stake in the city-state's Universal Terminal formerly owned by the founders of Hin Leong Trading.
The company has completed the purchase of the 41% stake from the Lim family, news agency Reuters reported on Saturday, citing a spokesman for the port. The rest of the terminal is owned by PetroChina and Australian investment bank Macquarie.
The terminal, located on Jurong Island, has 2.33 million m3 of storage and 15 jetties, including two for VLCCs, as well as nine bunker barge berths.
Last year it was reported that Chinese state energy company Sinopec had showed interest in buying the stake.
