Jubail Chemicals Storage and Services Company (JCSSC) has acquired chemical storage units from Sadara Chemical Company in the King Fahad Industrial Port in Jubail.
JCSSC has built and will operate the new facilities at Petrochemical Quay 2 (PCQ-2) located in KFIP. The agreements with JCSSC will allow for the storage and export of Sadara’s liquid products from the Kingdom.
Under the Tank Storage Construction Agreement, Sadara will sell to JCSSC for approximately SAR 1.7 billion a tank farm that has been constructed by Sadara at PCQ-2. The tank farm supplements the port terminal and related port facilities that have been constructed by JCSSC. Under the Terminal Services Agreement, JCSSC will provide Sadara with liquid product storage and handling services at KFIP for an initial term of 20 years.
These agreements lay an important foundation for Sadara’s supply chain in
Jubail as
the company moves toward production of first products.
Sadara is currently building the world’s largest chemical complex ever built
in a single
phase in Jubail Industrial City II, Saudi Arabia. Construction of the
complex is
nearing completion, and Sadara is on track to deliver its first products by
the end of
2015, with the complex anticipated to be in full operation by the end of
2016.
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Eelco Hoekstra, CEO of Royal Vopak, said: “The partnership in which the Royal Commission, SABIC and Vopak have jointly collaborated over the past 20 years to create a world-class supply chain infrastructure in Jubail and Yanbu. This sets a great platform to deliver further growth and efficiency in the Kingdom.”
SABIC is a global diversified chemical company headquartered in Riyadh. The company manufactures on a global scale in the Americas, Europe, the Middle East and Asia Pacific, producing different kinds of products including chemicals, commodities, high-performance plastics, agri-nutrients and metals. The company supports customers by identifying and developing opportunities in key end-use applications such as construction, medical devices, packaging, agri-nutrients, electronics, transportation and clean energy. Production in 2019 measured 72.6 million metric tons. SABIC has more than 33,000 employees worldwide and operates in about 50 countries. Fostering innovation and a spirit of ingenuity, SABIC has 12,540 global patent filings and has significant research resources, with innovation hubs in five key regions – the US, Europe, the Middle East, South Asia and North Asia.