Dialog Group Bhd has secured a 30-year concession from Tanjung Langsat Port Sdn Bhd (TLP) to develop an Independent Centralised Tankage Facilities (CTF) and dedicated tank terminal at the Port of Tanjung Langsat in Johor. It has also secured a deal with global energy trader, Trafigura Beheer BV, to be its dedicated customer for the project, which will be carried out on a "build, own, operate and transfer" basis. Announcing the deal yesterday, Dialog said pursuant to a Memorandum of Understanding, its subsidiary Dialog Equity Sdn Bhd (DESB) and Trafigura would form a joint venture, with DESB expected to take up a 80% stake in the project. It said DESB customers for the lease of additional storage capacity and tank terminals to be developed within the port. For the contract with Trafigura, Dialog said DESB had secured from TLP, a Johor Corp Bhd subsidiary, the rights to develop the CTF and tank terminal. DESB yesterday signed two 30-year concession agreements with TLP for a 4ha piece of land for the CTF and another 16 ha parcel for the tank terminal, and two 30-year lease agreements for the two parcels of land for a totalof RM38.1 million per year with the option for another 30 years. Dialog said the tank terminal, which will have a storage capacity of about 400,000 cubic metres, would be leased to Trafigura for its exclusive use on a fixed monthly rental. Trafigura is involved in the global energy trading businesses for the supply and offtake of crude oil, petroleum products, liquefied petroleum gas (LPG) metals and metal ores and concentrates. Its group equity is now in excess of US$1 billion with an annual revenue of US$45 billion. Trafigura has 55 offices in 36 countries worldwide. It's 'Puma' unit operates the group's worldwide oil and petrochemical storage and distribution assets and investments. TLP is developing a bulk liquid petroleum storage facility including jetty facilities in various phases within the port, which is located within the IDR. | 
