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A new petrochemical import terminal to be built in Tianjin, China

April 08/2011

(Plastemart) -- US-based Merletti Partners International has formed an alliance with Hong Kong firm Rose Rock Infrastructure. The latter, through its joint venture with Hongfa Investment, will build and manage a new petrochemical import terminal in Tianjin, China - the fifth busiest port in the world at an investment of USD 256 mln. Merletti will be in charge of all project-related security and will manage ongoing security needs upon commencement of operations. This is the first time a western company has purchased a stake in a Chinese petrochemical port. Development on the site is scheduled to take two years to complete, in which time two 10 KTn chemical berths will be built.


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