Odfjell Nangang Terminals (Tianjin) Co., Ltd (ONTT) is a joint venture project between Odfjell Terminals Asia Pte Ltd (Odfjell) and Tianjin Nangang Industrial Zone Port Co. Ltd (NPCo). Odfjell holds 49% of the shareholding and NPCo holds 51% of the shareholding in ONTT.
ONTT is strategically located in Tianjin Port, which is on the intersection point of Jingjin’s (Beijing and Tianjin) city zone and economic rim around Bohai Bay. It is the nearest port to the inland areas such as North China and North-west China among all ports around the Bohai Bay. It is also the link connecting North-east Asia and Middle-west Asia, and the east starting point of Eurasia Continental Bridge.
In September 2010, Odfjell was selected by Tianjin Economic-Technological Development Area (TEDA) to become Nangang Port Company’s exclusive joint venture partner for the public liquids terminal and jetty facilities in the Nangang Industrial Zone. The Chinese central government plan for this area to become the largest petrochemical industry base in North East China, accommodating the production of over 200 petrochemical products. The joint venture agreement was signed in December 2011.
Within the industry zone, ONTT will serve jetty throughput services over its public jetty to remote storage terminals without waterfront access and provide services to producers demanding storage and jetty services. In addition, ONTT will service customers both in and out of the industry zone with storage and transfer services through truck, rail and marine modes.
The first phase of ONTT is scheduled to start operations Q4 2013.