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UAE-based AquaChemie Group is looking to generate additional revenue of $300 million as a new petrochemical facility opens at DP World’s flagship Jebel Ali Port in Dubai.
Chemical sales and services company AquaChemie Middle East opened on Thursday its $50 million terminal, which will serve as a vital gateway to facilitate and boost petrochemical trade in the Middle East and globally.
The facility occupies an area of 20,000 square metres and is located around 500 metres from Chemical Berth 4 in Jebel Ali Port.
The break-bulk facility is expected to fill the “supply chain void” in the industry by serving as a “strategic hub” for the trade and distribution of liquid petrochemicals.
“Petrochemical manufacturers and end-users are located globally, meaning that chemicals must constantly move between them. In terms of packing volumes and the geographic location of the manufacturer and end-user industry for petrochemical products, there is a significant supply chain gap,” the company said in a statement on Thursday.
The terminal’s 26 large tanks have a total storage capacity of more than 34,000 cubic metres. Its warehousing facility has more than 6,300 drums a dedicated ISO tank storage area and a weigh bridge at the truck entry point.
“It took us four years to bring the AquaChemie terminal from concept to reality,” said Subrato Saha, Managing Director of AquaChemie.
“AquaChemie Group’s target for the new terminal over the next three years is $300 million (AED 1.1 billion,” he added.
The global petrochemical market is expected to hit $5.4 trillion by 2027.
(Reporting by Cleofe Maceda; editing by Daniel Luiz)
