Turkey's Largest Liquid Terminal Acquired by Yilport Holding

Yilport Holding Thursday announced that it has acquired 100 percent of the shares of Turkey's largest liquid terminal Solventas Technical Storage.

Yilport Holding Inc. (Yilport Holding) Thursday announced that it has acquired 100 percent of the shares of Turkey's largest liquid terminal Solventas Technical Storage Co. Inc. (Solventas Terminal), which operates in Kocaeli Province and includes storage of bunker products.

As a result of the deal, Yilport Gebze Port and Solventas Terminal will be consolidated into Yilport Dilovasi Liquid Terminal, which the company says will make it both the largest and most advanced liquid terminal in the Dilovasi District of the Gulf of Izmit.

"Yilport Holding continues its growth towards its goal to be ranked among top 10 international port operators by 2025. As part of this objective, Yilport acquired 100 percent shares of Solventas Technical Storage Co. Inc. on June 14, 2016," said Yilport Holding in the statement.

"Solventas joined Yilport's global fleet as the 23rd terminal. The handover is expected to commence following the Turkish Competition Authority's approval."

Yilport Gebze, which currently has a 120,000 cubic metre (cbm) capacity across 85 chemical tanks, is expected to receive new investments as result of the consolidation, boosting its capacity to over 450,000 cbm of liquid storage across 300 tanks.

Aligning with Turkey's 2023 vision, the merger is also said to be expected to support the growth of the country's chemical industry.

Solventas Terminal, which has 217 chemical tanks with a storage capacity of 333,000 cbm, serving tankers and vessels on 2 quays, is said to be the first specialised port for Yilport Holding, as it is exclusively dedicated chemical and liquid cargo.