Technology Development Area News

Odfjell SE has made an agreement to enter into a joint venture via its subsidiary Odfjell Terminals Asia Pte Ltd (Singapore), with Tianjin Economic-Technology Development Area (TEDA) via its subsidiary Nangang Port Company to develop a terminal and marine facilities for bulk liquid chemicals, petroleum products and gases in the Nangang Industrial Zone (Tianjin) in China. The initial phase of the joint venture will consist of three deep sea berths and have a total storage capacity of about 150,000 cubic meters. The joint venture company will be named Odfjell Terminals Nangang (Tianjin), whereby Odfjell will hold 49% ownership and hold the operational management. The initial total investment is estimated to be about USD 160 million.

The cooperation agreement was signed by Nils Klippenberg (left), director of Strategy and global account manager in Siemens, and Halfdan Knudsen, senior vice president for process and refining technology in Statoil. Statoil and Siemens signed a technology development cooperation agreement. The partnership will initially embrace wind power, subsea technology, electrical engineering technology and energy efficiency measures. Cooperation between the companies facilitates the development of future path-breaking technology.