Page 14 - DMEA Week 27 2021

DMEA TERMINALS & SHIPPING DMEA

Petrochem Middle East to build

chemicals terminal in Dubai

MIDDLE EAST CHEMICALS distributor Petrochem Middle products from Jebel Ali.
East this week signed a 30-year lease with DP The agreement was signed by Petrochem
World and agreed to build a new terminal in Middle East CEO Yogesh Mehta and DP
Dubai’s Jebel Ali Free Zone (Jafza). WORLD chairman and CEO Sultan Ahmed bin
The new facility will be developed with a Sulayem and was witnessed by DP World’s CEO
storage capacity of 40,000 cubic metres of var- and managing director for the UAE and Jafza,
ious products across 24-30 bulk chemicals stor- Abdulla bin Damithan.
age tanks and will also include distillation and Mehta said: “Today, our annual turnover is
processing units as well as a nitrogen generation over AED2.5bn ($681mn) and with the new
plant and automatic drum filling machines. project, we are expecting short-term and long-
It is expected be completed during Q3 2023 term gains of about 10-15% of our investment.”
and come in at a cost of $80-90mn. It will be Daminthan noted: “Despite the highly unsta-
located adjacent to the company’s existing termi- ble market due to the pandemic, over the course
nal, which was built in 1999. This includes three of 2020, the [Gulf Co-operation Council’s]
dedicated jetty pipelines, 23 bulk storage tanks chemical output expanded by 1.5% compared
for import and storage of products in bulk with to a global decline of 2.6%. The petrochemical
total storage capacity to 25,650 cubic metres, industry is a priority sector for the country and
drumming facility and a tanker loading gantry, the region.”
handling more than 180 variants of chemicals. Jafza includes a petrochemical cluster that
Petrochem Middle East currently exports covers 4 square km and houses more than 500
more than 700,000 tonnes per year (tpy) of petrochemical companies.™

P14 www. NEWSBASE .com Week 27 08•July•2021