IHI Corporation and Royal Vopak have signed a joint development agreement under which IHI and Vopak plan to establish a new joint venture. Taking into account the ongoing progress of domestic infrastructure development within the country, IHI and Vopak plan to participate in projects for the development and operation of an ammonia terminal in Japan, aiming to start operations in the Japanese fiscal year 2030, focusing on the development of safe and efficient ammonia storage and handling infrastructure.
The ammonia terminal development aims to facilitate the receiving and storing of imported ammonia within Japan and to facilitate the establishment of a system for stable supply of such ammonia in Japan. Ammonia is anticipated to contribute to Japan's decarbonization goals through its increased use as fuel and raw material in power generation and various industrial uses.
In this partnership, Vopak, a global tank storage and infrastructure partner, will leverage its experience in ammonia terminal engineering and operating. IHI Group, as Japan’s leading ammonia storage tank manufacturer, will advance its efforts to develop an ammonia value chain focusing on clean ammonia.
The collaboration focuses on developing a broader ammonia supply chain in Japan, with the goal of promoting the various uses of ammonia. Furthermore, IHI and Vopak aim to establish an efficient ammonia distribution system by utilizing an ammonia terminal with a hub function for marine transportation.