
Saudi Arabia's Zamil Group and Royal Vopak of theNetherlands plan to set up a joint venture to develop independent bulk liquid and liquefied natural gas terminal facilities across the Middle East and NorthAfrica (Mena), the two companies announced.
The new enterprise will provide tank storage services to theoil and chemical majors, trading companies and natural gas suppliers.
'This is a further step in both companies' growth strategyin this important and rapidly expanding market,' a joint statement said.
'The Mena area is one of the world's foremost locations foroil and petrochemicals. The next stage of the region's development will be thelarge-scale manufacture and distribution of intermediate and specialtychemicals and high quality oil products. The production of these value addedgoods is expected to generate new growth in the industrial base of the MiddleEast,' it added.
The statement went on to say that Vopak and the Zamil Groupbelieved that developing world-class independent bulk liquid storage terminalsat strategic locations would be a significant contributing factor in providingthe high quality logistic services that the region's continuing developmentrequires.
Vopak operates 79 terminals
Royal Vopak is the world's largest independent tank terminal operator specialising in the storage and handling of liquid and gaseouschemical and oil products. On request, Vopak can provide complementarylogistics services for customers at its terminals. It operates 79 terminals witha storage capacity of 27.7 million cbm in 31 countries. The terminals are strategically located for users and the major shipping routes. The majority ofits customers are companies operating in the chemical and oil industries, forwhich Vopak stores a large variety of products destined for a wide range of industries.
Headquartered in Saudi Arabia, the Zamil group is a global investment and manufacturing group with diverse interests and capabilities inover 60 countries in fields including air conditioning, structural, steelproduction, port operations and services, petrochemical and plastics production and ship building.
Zamil has been a pioneer and leader within the businesscommunity in Saudi Arabia and employs some 12,000 people worldwide.