Odfjell has boosted its presence in China after penning an agreement to develop a petrochemical terminal in the city of Tianjin.

The Oslo-listed company has formed a joint venture with local authorities to build the facility to handle bulk liquids, petroleum products and gases in the Nangang Industrial Zone.

The first phase of the project, scheduled to start operations during the second quarter of 2014, will consist of three deep berths and have a total storage capacity of 150,000 cubic meters.

Odfjell