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FINANCIAL NEWS
Sabic inks storage deal with Belgian firm
10 Oct 2010
(MENAFN) The executive vice-president of Sabic, a leader in the chemicals and plastics industries, Yousef Al-Zamel said that the company has inked a long-term storage services contract with Belgium-based Oiltanking Stolthaven Antwerp NV to ensure a sustainable global supply chain, Trade Arabia reported.
Oiltanking Stolthaven Antwerp is a joint venture between Oiltanking GmbH and Stolthaven Terminals BV operating an independent terminal in Antwerp handling petroleum products, chemicals and gases.
The deal, which goes into effect in 2013, will guarantee an uninterrupted supply of feedstocks to Sabic’s two major naptha cracking facilities in Geleen, The Netherlands.
Oiltanking Stolthaven Antwerp will provide state-of-the-art storage with zero-emission tanks that surpasses Belgian environmental regulations, helping Sabic to ensure a sustainable supply chain.
This long-term partnership highlights Sabic’s strong commitment to its worldwide customers and service providers as well as to its production facilities at the Geleen site in the southern part of the Netherlands.
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