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Royal Vopak has announced that it has acquired 80 percent of the shares in the Spanish company Alpetrol from Novaro, a subsidiary of the Russian oil company NK Alliance.

Alpetrol holds a concession granted by the Algeciras Port Authorities and has obtained all relevant permits for the construction and operation of a bulk liquid storage terminal in the port of Algeciras.

The remaining 20 percent of the shares are held by Vilma Oil, a Spanish company that provides oil-related logistical and technical services and is a physical bunker supplier in Ceuta.

Through Alpetrol, Vopak and its partner Vilma Oil will start the construction of a storage terminal for oil products with a capacity of 403,000 cubic meters in the port of Algeciras.

The terminal, which will be named Vopak Terminal Algeciras, is the first to offer independent bunker storage services in Algeciras and is expected to be commissioned in mid-2012.

Algeciras is strategically located on the Straits of Gibraltar and the Mediterranean Sea - a key transit area at the crossroads of the world’s main shipping lanes that connect Europe, West Africa, America and Asia.

Together with the ports of Ceuta and Gibraltar, the port of Algeciras is part of the second largest European marketplace for bunkering services and an important logistic hub.