Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a five-year contract with Borouge to handle its high value products at Ruwais container terminal.
As a part of the deal, Adnoc Logistics and Services will carry out all handling operations of Borouge’s packed and palletised products and bulk loaded containers at Ruwais terminal, the company said in a statement on Wednesday,
The move comes as it plans to increase its production in the next five years to meet the forecasted growing demand, especially in China and South East Asia, for high value polymers.
Adnoc Logistics and Services which was created following the integration of Irshad, Esnaad and Adnatco into a single Adnoc operating company will handle up to 800,000 TEUs (Twenty-foot Equivalent Units) per annum.
“This five-year contract with Borouge is a robust vote of confidence in our plans to create added value by establishing a world class, integrated, logistics and services business in Ruwais,” stated Abdul Aziz Mohammad Al Za’abi, senior vice president of the services unit at Adnoc Logistics and Services.
Adnoc is making significant investments in new downstream projects to grow its refining capabilities and expand its petrochemical production. As a result of the planned expansions in Adnoc downstream business, Ruwais will become one of the largest integrated refining and petrochemical complexes in the world.
Source: Gulf News