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 meters (cbm) after completion early 2015.
Vopak today announces that they have taken the decision to build together with Sabic a new storage terminal in King Fahd Industrial Port at Jubail, Saudi Arabia. For this purpose a joint venture has been established, the Jubail Chemical Storage and Services Company (JCSSC), in which Sabic holds 75% and Vopak 25%. The plan is to finance the project from the parties’ own resources as well as through external funds.
The new facility will have an initial storage capacity of approximately 250,000 cbm. 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.
Royal Vopak is the world's largest independent tank storage service provider, specializing in the storage and handling of bulk liquid chemicals, gasses and oil products. Vopak operates 84 terminals with a storage capacity of nearly 30 million cbm in 31 countries. The terminals are strategically located for users along the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.