The 15-year contract covers operation of the first phase of the pioneering underground petroleum-product storage, which consists of five deep excavated undersea rock caverns.
JTC Corporation has awarded the contract to Banyan Caverns Storage Services (BCSS), formed by Vopak Terminals Singapore (45%), Vinci subsidiary Geostock (35%), and Jurong Consultants (20%). Geostock has already provided basic engineering design and construction management services for the project.
The operator will be responsible for management and maintenance of the underground and surface facilities, notably the access shafts, underground tunnels, mechanical, electrical and instrumentation equipment including fire protection and ventilation systems, and ancillary facilities such as jetties.
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