KUALA LUMPUR: FGV Holdings Bhd is building nine vegetable oil storage tanks due to increasing market demand and to fulfil the government’s B20 biodiesel mandate for the transport sector.
FGV said in a statement on Friday the nine tanks are being built in Tanjung Langsat, Johor with 20,000 tonnes capacity and they will be completed by the third quarter of 2021.
It also said that another six tanks were ready for use, of which four are in Pasir Gudang, Johor with 10,400 MT capacity and two tanks with 5,200 MT capacity in Port Klang.
The four tanks in Pasir Gudang were completed in August and the other two in Port Klang were completed in February.
FGV owns one of the world’s largest and most modern storage facilities for vegetable oils with a total capacity of more than 1.1 million tonnes through 12 liquid terminals located in Malaysia, Indonesia and Pakistan.
FGV operates its bulking and storage business through its subsidiary, FGV Johor Bulkers Sdn Bhd.
FGV Johor Bulker handles 25% of Malaysia’s total palm oil exports and provides ample tank space solutions for international vegetable oil traders to effectively conduct business worldwide.