Panama: Renowned fuel terminal operator is established in Panama
From the press release by VTTI: January 25, 2017. VTTI B.V. ("VTTI"), the global independent provider of energy storage, today announces an acquisition of a 230,000 m3 facility in Panama, resulting in a joint venture between VTTI and Global SLI. This deal sees VTTI take a 75% interest in PetroAmerica Terminal, S.A. ("PATSA"), a terminal strategically located on the Pacific side of the country, close to the Panama Canal, with a wide range of refined products storage.
VTTI's expertise and knowledge of the industry as well as its international network will further strengthen the central role PATSA plays in supplying domestic and international markets and enhance its multiple potential growth opportunities. PATSA is a highly regarded regional terminal company with an excellent operating track record.
This merger adds value to Panama’s positioning as a logistical hub, and diversifies the offer of related services required by the Panama Canal and its new expansion, positively influencing the country’s services platform.
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