WEB Apollo and Vale Enter Into Joint Venture Partnership
Related to the Vale Oman Distribution Center
NEW: WEB Vale Informs that it has Entered into a Joint Venture Agreement with Apollo¹
06 2024 GLOBE NEWSWIRE -- Apollo NYSE: APO
WEB VODC Operates a Maritime Terminal in Sohar, Oman with a Large Deep-Water Jetty and an Integrated
WEB Global mining giant Vale S A, through its subsidiary Vale International S A, has signed a binding agreement with Apollo Global Management to establish a joint venture entity that will own an indirect 50% interest in the Vale Oman Distribution Center ("VODC") and related infrastructure.
WEB Apollo and Vale Enter Into Joint Venture Partnership
Apollo will invest $600 million to acquire a 50% interest in a joint venture entity related to the Vale Oman Distribution Center. Vale will continue to own 100% of Vale Oman Pelletizing Company. VODC operates a maritime terminal in Sohar, Oman with a large deep-water jetty and an integrated network of conveyors and shiploaders.
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