Royal Vopak, Zamil Group sign storage terminal MOU
Jan 5, 2010 3:09 PM
Royal Vopak of the Netherlands and the Zamil Group of Saudi Arabia have signed a Memorandum of Understanding (MOU) expressing their intention to develop a joint venture storage terminal company for the Middle East and North Africa (MENA) region.
This joint venture aims to develop independent bulk liquid and liquefied natural gas terminal facilities across the MENA region, in order to provide tank storage services to the oil and chemical majors, trading companies and natural gas suppliers. This is a further step in both companies’ growth strategy in this important and rapidly expanding market.
The MENA area is one of the world’s foremost locations for oil and petrochemicals. The next stage of the region’s development will be the large scale manufacture and distribution of intermediate and specialty chemicals and high quality oil products. The production of these value added goods is expected to generate new growth in the industrial base of the Middle East. Vopak and Zamil Group believe that developing world class independent bulk liquid storage terminals at strategic locations will be a significant contributing factor in providing the high quality logistic services required for the region’s continuing development.
Royal Vopak is the world’s largest independent tank terminal operator specializing in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 79 terminals with a storage capacity of 27.7 million cbm in 31 countries. The terminals are strategically located for users and 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.
Headquartered in Saudi Arabia, Zamil group is a global investment and manufacturing group with diverse interests and capabilities in over 60 countries ranging from air conditioning, structural, steel production, port operations and services, petrochemical and plastics production and ship building. Zamil has been a pioneer and leader within the business community in the Kingdom of Saudi Arabia and employs some 12,000 people worldwide.
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