The Belgian port authority is gaining ownership and control of 720 kilometers of pipelines through its acquisition of Nationale Maatschappij der Pijpleidingen.
The Antwerp Port Authority is acquiring pipeline operator Nationale Maatschappij der Pijpleidingen (NMP) from its current shareholders, Ackermans & van Haaren and Electrabel, for 44 million euros (U.S. $51.7 million), the port authority announced Wednesday.
The deal gives the Antwerp Port Authority ownership and control of 720 kilometers of pipelines, 90 percent of which serve the chemical and petrochemical companies at the Belgian port and its hinterland.
Currently, 86 percent of NMP’s income is generated from 600 kilometers of pipelines within the port area or connecting the Antwerp cluster companies with petrochemical companies in Kempen (Flanders) and Feluy (Wallonia), according to the port. An additional 11 percent of the company’s income comes from joint ventures that manage 117.5 kilometers of pipeline, 67.8 kilometers of which is located within the Port of Antwerp.
Antwerp Port Authority acquires pipeline operator in $51.7m deal
