Sabic, Vopak invest in new terminal in Jubail, Saudi Arabia

Sabic, Vopak to invest in new terminal in Jubail, Saudi Arabia

5:36 AM, 15th November 2012
Sabic, Vopak to invest in new terminal in Jubail, Saudi Arabia

ROTTERDAM, THE NETHERLANDS: Vopak and Sabic have decided to jointly invest in a new terminal in King Fahd Industrial Port at Jubail, Saudi Arabia, to serve the expansion of the petrochemical and downstream industries. The initial storage capacity will be approximately 250,000 cubic metre after completion early 2015. Sabic holds 75 per cent in the joint venture while Vopak 25 per cent. The plan is to finance the project from the parties’ own resources as well as through external funds.

The first phase will consist of around 40 commodity and specialty chemical storage tanks, complete with truck handling and ship loading facilities for 5 berths, and is expected to be ready for commissioning early 2015. This capacity can be expanded in the future. The investment in this industrial terminal will provide the petrochemical industry in Jubail with a critically important export facility, designed to the highest safety standards, and will enable the continued growth of the petrochemical and downstream industries in one of the largest petrochemical production locations in the world.

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