UpdateDutch Vopak, SABIC to jointly build chem terminal in Saudi Arabia

14 November 2012 08:59  [Source: ICIS news]

(adds details in paragraphs 7 and 8)

petrochemical storage tanksSINGAPORE (ICIS)--Dutch tank storage service provider Vopak and SABIC will jointly build a chemical terminal at King Fahd Industrial Port in Jubail, Saudi Arabia, Vopak said on Wednesday.

Once completed in early 2015, the first phase of the new terminal will have an initial storage capacity of about 250,000 cubic metres (cbm), the company said in a statement.

“This capacity can be expanded in the future,” it said.

The first phase of the terminal will consist of around 40 commodity and specialty chemical storage tanks as well as truck handling and ship loading facilities for five berths, Vopak said.

Vopak and SABIC has established a new joint venture, Jubail Chemical Storage and Services Company (JCSSC), to run the project.

SABIC holds 75% of JCSSC while Vopak owns the remaining 25%.

JCSSC has awarded the engineering, procurement and construction (EPC) contracts for the new terminal in Jubail to China National Chemical Engineering Corporation, SABIC said in a separate statement released on Wednesday.

The total investment cost for the contracts is estimated at $400m (€316m), it added.

($1 = €0.79)

By: Nurluqman Suratman

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