Friday, October 7, 2011

China Aviation Oil

China Aviation Oil: Anouced that it has entered into a JV with a Msian company, Centralised Terminals, to build and and operate an oil storage terminal for jet fuel, gasoil and fuel oil at JB. CAO will acquire a 26% equity stake in Langsat Terminal (Three), a SPV set up by CTSB.
Based on total cost of investment of RM370m (or US$127m) and debt/equity ratio of 70:30 for the Terminal Three Facility, CAO's equity investment amount is about RM29m (or US$10m) over the next two yrs. Construction is expected to start this year and completed by 2013.

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