UAE-based shipping firm Tristar has consolidated its presence in Dubai's Jebel Ali Free Zone (JAFZA) with the acquisition of the Shell Chemicals terminal.
The Shell Chemicals terminal is situated on a 21,000 sq m lot and consists of nine storage tanks with a capacity of 5,505 cubic metres, a jetty with three pipeline connections to the tanks, truck loading gantry and drumming facility.
Under the terms of the deal, Tristar will undertake a capacity expansion and terminal modernisation program over the next five years which will see the capacity expand to over 25,000 cubic metres.
Shell will continue to remain a customer under the terms of a services agreement signed between the two companies, a statement said.
Tristar is a liquid logistics solutions provider that offers services to cater to the needs of the downstream petroleum industry, both in the region and globally.
The group owns a fleet of 24 chemical, oil and gas tankers, has operations in 18 countries and employees more than 1,800 people.
Eugene Mayne, group CEO for Tristar, said: “We are very proud of this acquisition which has strategic importance not only for us a company but also to our customers who can now have access to a truly turnkey and fully integrated distribution service with our ability to now handle bulk imports and offer storage and distribution of both bulk and packed chemical products.
"This facility will complement our existing dangerous goods facility in JAFZA South Zone which currently houses a wide range of packed chemicals and petroleum products.”For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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