Spanish regulators have agreed to let Royal Vopak NV (Vopak) triple the capacity of its liquid storage terminal in Algeciras, Bloomberg reports.
The project, which the Rotterdam-based company has not finalised, could add 881,000 cubic metres of storage and 36 new tanks for storage of bunker fuel, gasoline, diesel, naphtha, or other products.
"It's still in a feasibility phase," said Hans de Willigen, Vopak's global director of communications and investor relations.
Vopak owns 80 percent of the terminal, which is in Spain next to Gibraltar.
A previous Spanish government resolution required the company to take action to protect the environment around the site.
Vopak recently announced the expansion of a Fujairah terminal that it operates in a joint venture with Middle Eastern players.
