Page 20 - DMEA Week 48 2020

DMEA NEWS IN BRIEF DMEA

Chinese-built oil storage strategic integration among the three parties Terminals BV owners of 58% and 22%
The agreement aims at strengthening
shares, making SABIC and Vopak Holding
facility in Namibia receives to scale up the scope of collaboration respectively.
between local and international
first fuel consignment organisations. This will ultimately help
achieve the goals of the National Industrial
Namibia’s national oil storage facility, jointly Development and Logistics Program, a key Iran’s Rouhani inaugurates
built by China and Namibia, received its first part of Saudi Vision 2030. $800mn ammonia, urea
diesel consignment on Monday, state-owned Commenting on the event, Abdullah
oil company National Petroleum Corporation Al-Saadan, president, Royal Commission production complex
(NAMCOR) confirmed with SAT on for Jubail and Yanbu, said that JYIC enables
December 1. the Royal Commission to make optimal Iranian President Hassan Rouhani on
In total, 35,000 metric tons of diesel were use of its assets and provide services in November 26 inaugurated an $800mn
being offloaded at the new oil storage facility the Royal Commission cities, thus achieve ammonia and urea (carbamide) production
built at the coastal town of Walvis Bay, said sustainability and efficiency. He also said complex built by Lordegan Petrochemical
NAMCOR managing director Immanuel that the agreement is part of Saudi Vision Company in the southwest of the country.
Mulunga. 2030. The facility, located in Chaharmahal
NAMCOR was authorized by the “It invests in the development of the and Bakhtiari province, has the capacity to
Namibian government to manage and operate industrial investor logistical services produce 677,000 tonnes/yr of ammonia and
the state-of-the-art national oil storage sector, which plays an active logistical 1.075mn tonnes/yr of urea.
facility, which was constructed by a joint role in serving industries, especially Rouhani said during the opening
venture between China Harbour Engineering petrochemicals. This will help create ceremony that the output would be
Company, the Roads Contractor Company an attractive environment and enhance exported and that Iran was ready to supply
and Babyface Civils. capabilities of the business sector,” Al- the international market at lower ammonia
This oil storage facility consists of a tanker Saadan said. and urea prices than usually available, the
jetty which can accommodate vessels with Yousef Al-Benyan, SABIC vice chairman official IRNA news agency reported.
up to 60,000 deadweight tons. It also has and CEO, said the agreement builds on the He also encouraged foreign investors to
a capacity of 75mn litres of fuel, and four historical partnership between SABIC and become involved in Iran’s petrochemical
dedicated pipelines for diesel, unleaded petrol, RCJY. It is an extension of the company’s industry, and other industries the country is
jet fuel and heavy fuel oil, covering a total continuous coordination in support of developing.
distance of 6.43 km from the jetty to the tank the industrial sector in the kingdom to The prospects for such involvement
farm. create an appropriate environment to lay will very much depend on whether the
the foundation for future investment, Al- upcoming US Biden administration lifts the
Benyan added. Also he recognised on the Trump era sanctions that apply to Iran.
JYIC pens partnership deal contribution of vopak as a global player in reported official data as showing that
Earlier this week, Mehr news agency
this field.
with SABIC, Vopak to own said: “The entry of JYIC cements a Iran produced seven million tonnes of
Eelco Hoekstra, CEO of Royal Vopak,
petrochemical products in the first seven
20% stake in Chemtank partnership in which the Royal Commission, months of the current Persian calendar year
(from March 21 to October 22). The volume
SABIC and Vopak have jointly collaborated
SABIC and Vopak Holding Terminals over the past 20 years to create a world- marked year on year growth of more than
BV signed a partnership agreement with class supply chain infrastructure in Jubail 8%..
Jubail and Yanbu Industrial Cities Co and Yanbu. This sets a great platform to
(JYIC), owned by the Royal Commission deliver further growth and efficiency in the
for Jubail and Yanbu, under which JYIC kingdom.”
will become a 20% stake partner in Jubail Under the new agreement and subject to
Chemical Storage and Services Company obtaining all required regulatory approvals,
(Chemtank). JYIC will own 20% of the Chemtank

P20 www. NEWSBASE .com Week 48 03•December•2020