PT Jakarta Tank Terminal (JTT), a joint venture between PT AKR Corporindo Tbk and Vopak, has signed a USD 60 million financing agreement to finance the construction of Vopak Terminal Jakarta, an independent petroleum storage terminal at Tanjung Priok port, Jakarta Indonesia.
 
The facility has been provided by the international banks FMO (Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V) The Netherlands, DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH) Germany, and ING Bank N.V. Singapore for financing the construction of the first phase of the storage terminal for petroleum products with capacity of 250,000 cubic meters. The terminal is expected to be fully operational in 2010.
 
JTT is a joint venture between PT AKR Corporindo Tbk (51%), Indonesia’s leading bulk chemicals & largest private sector distributor for petroleum products and Vopak Indonesia BV (49%).