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Vopak Terminal Perth Amboy to Develop a Third Party Storage

Vopak Terminal Perth Amboy to Develop a Third Party Storage
Facility at Former Hess Site in Perth Amboy, N.J.

Facility Will Create New Jobs

PERTH AMBOY, NJ—Vopak, the world’s leading independent provider of bulk liquid storage facilities, and their joint venture partner, Tanco Terminals, a terminaling company owned by the Middendorf families, has purchased the former Hess State Street Terminal in northern Perth Amboy, N.J. The venture, Vopak Terminal Perth Amboy, is in the process of defining its development plans for the use of this mothballed site as an independent third party storage facility for petroleum and bio-fuel products.

The establishment of this new terminal will build on the City of Perth Amboy’s initiatives to boost employment and business opportunities in the area by creating several new jobs. Officials expect the site to be operational in 2013, subject to the final investment decision by the venture’s shareholders.

Vopak Terminal Perth Amboy, plans to take advantage of Perth Amboy’s unique geographic location to facilitate the receipt, storage, handling and dispatch of petroleum and bio-fuel products, in particular its deepwater frontage on the Arthur Kill, a major shipping channel.
The purchase of the site is a direct result of an economic development initiative spearheaded by Mayor Wilda Diaz, who has made business expansion and job creation a priority of her administration. In particular, city officials have sought to establish Perth Amboy as a center for green technology and renewable energy. The new Vopak-Tanco facility, with its capacity for biodiesel storage, helps to achieve that goal.

“Perth Amboy has a number of sites that are strong port facility candidates.  These are prime locations for redevelopment and/or rehabilitation. The venture is expected to invest heavily in Perth Amboy to upgrade this site’s facilities and our existing transportation infrastructure,” said Diaz. “This project will add quality job opportunities for our residents and ensure that Perth Amboy continues to grow as an industrial and renewable energy hub for the area.”

The project to establish the new terminal is expected to take several phases during which opportunities will arise from demolition and site improvement activities for local contractors.

“We are thrilled to establish a presence in Perth Amboy and to contribute to the economic development and revitalization of the city,” said Ralf van der Ven, Director of Business Development for Vopak North America. “We look forward to continuing our strong relationship with Mayor Wilda Diaz, and we appreciate the professionalism displayed by city officials throughout this entire process.”

About the Perth Amboy BID and UEZ
The Perth Amboy Business Improvement District (BID) provides a complement of programs and services to support marketing efforts that attract patrons and visitors to the city’s business district. The Urban Enterprise Zone (UEZ) program offers powerful incentives to attract, retain and expand businesses in the city’s Urban Enterprise Zones. The city has attracted more than $1.3 billion dollars in private capital investment through the UEZ program. Through the seamless coordination of BID and UEZ incentives and services, Perth Amboy aggressively employs the creative cutting-edge ideas that successfully energize economic development and growth, enhancing the city’s image, stabilizing local property taxes and creating new jobs. To learn more about opportunities to do business in the City of Perth Amboy please call 732-826-0290 or visit www.ci.perthamboy.nj.us. Follow us on Facebook at www.facebook.com/Perth Amboy or on Twitter @PerthAmboyNJ.