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NEWS BULLETIN
STORAGE TERMINALS
ACT TO BUILD IN ABU DHABI
Abu Dhabi Ports has signed a strategic agreement with Arabian Chemical Terminals (ACT) for the development of a greenfield bulk liquids storage terminal at the deepwater Khalifa Port. The terminal, the first commercial facility in Abu Dhabi, will be developed on a 50,000-m2 plot of land adjacent to a quay with 16 m water alongside, with an option on a further 150,000 m2 of land. It is envisaged that the terminal will be developed in two phases, the first scheduled for commissioning in the second half of 2022 with 44 tanks of 1,250 tonnes and 3,000 tonnes capacity; a second phase will include larger tanks and gas spheres. “Located between Abu Dhabi, Ruwais, and Dubai industries, the new liquid terminal will not only prosper as a result of its strategic location, but will be further bolstered by Khalifa Port’s multimodal connectivity with access to the sea and UAE’s extensive road and future GCC railway network,” says Rakan Alireza (above right), managing director of ACT. “In addition to supporting our overseas expansion strategy, the project will also provide the
HCB MONTHLY | MAY 2020
foundation for other potential terminal activities within the emirate of Abu Dhabi.” ACT is exploring further opportunities to expand its service offering in and around Khalifa Port, including the facilitation of bunkering services, drumming and tank container filling services, ADR trucking and distribution, and stevedoring services to support other liquid product transfers. arabianchemicalterminals .com www.adports.ae
a material impact on the execution of our process. This is clearly not the right environment to pursue and complete a major pan-European transaction, though we may revisit this process at a later date.” Inter reports that demand for storage capacity is currently at very high levels, with tank utilisation currently standing at some 95 per cent. www.interpipeline.com
INTER TERMINALS SALE ON HOLD
Odfjell Terminals US (OTUS) has secured a new five-year, $250m revolving credit facility that will be used to refinance existing debt and fund expansion plans. Odfjell SE, which owns 51 per cent of OTUS alongside Northleaf Capital Partners, said in its annual report that it expects Houston to be the focus of its investment in the near future. “This is an important milestone for our terminal portfolio in the US, as it positions the company to expand its terminal footprint in Houston, one of the strongest growth areas and key hubs for petrochemicals in the world,” says
Inter Pipeline Fund has halted the divestment of its European bulk liquids storage division, Inter Terminals. “Despite being at an advanced stage of this process, we have made the decision to suspend sale activities,” says Christian Bayle, Inter Pipeline’s president/CEO. “Europe, like the rest of the world, is urgently addressing the Covid-19 pandemic. All European countries we operate in have recently implemented sensible measures to greatly restrict travel and human contact. Potential purchasers of this business have been significantly affected which has had
ODFJELL GETS CASH FOR HOUSTON
