Sabic, Vopak sell minority stake in Chemtank Jubail storage terminal JV

摘要

Sabic and Vopak Holding Terminals have signed an agreement with Jubail and Yanbu Industrial Cities Co. (JYIC) for JYIC to acquire a 20% ownership stake in Jubail Chemical Storage and Services Co. (Chemtank) in Saudi Arabia. Chemtank is a joint venture (JV) between Sabic and Vopak, which operates a 568,000-cubic meter tank terminal at the King Fahd industrial port in Jubail, serving one of the world’s largest petrochemical complexes. No financial details of the transaction were disclosed.