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FINANCIAL NEWS
Saudi Sadara to sell USD453m tank farm to JCSSC
02 Nov 2015
(MENAFN) Sadara Chemical Company (Sadara) has entered into two contracts with Jubail Chemical & Storage Services Company (JCSSC), a dual venture between Saudi Basic Industries Corp. and Royal Vopak of the Netherlands.
Additionally, the deals with JCSSC will allow for the storage and export of Sadara’s liquid products from the Kingdom, plus Sadara will sell a tank farm to JCSSC for approximately USD453 million.
In particular, these agreements present an important foundation and footing for Sadara’s supply chain in Jubail as the organization works hard to progress toward production of first products.
Sadara is now building the world’s biggest chemical complex ever built in a single phase in Jubail Industrial City II, the construction will finish soon and the company is on track to deliver its first products by the end of 2015.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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