Tianjin-Jiangyin Foreversun Chemical Logistics, a joint venture company of Hengyang Petrochemical Logistics, has entered into an equity transfer agreement with Odfjell Terminals Asia for a 49% stake in the Odfjell Nangang Terminals (Tianjin) joint venture in China, according to the Edge Singapore. Odfjell Nangang Terminals, a joint venture of Odfjell Terminals Asia and Tianjin Nangang Industrial Zone Port, is located at Tianjin Port in the Nangang Industrial Zone. The transaction, valued at RMB 167.6-million, is in line with Jiangyin Foreversun's aim to provide a full suite of services to the petrochemicals industry. An expected completion date was not disclosed.
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