Vopak and Zamil Group sign MoU to develop MENA joint venture
Royal Vopak of the Netherlands and the Zamil Group of Saudi Arabia announce the signing of a Memorandum of
Understanding between both companies, expressing their intention to develop a joint venture company for the Middle
East and North Africa (MENA) region.
This joint venture aims to develop independent bulk liquid and liquefied natural gas terminal facilities across the
MENA region, in order to provide tank storage services to the oil and chemical majors, trading companies and natural
gas suppliers.
This is a further step in both companies' growth strategy in this important and rapidly expanding market.
The MENA area is one of the world's foremost locations for oil and petrochemicals. The next stage of the region's
development will be the large scale manufacture and distribution of intermediate and specialty chemicals and high
quality oil products.
The production of these value added goods is expected to generate new growth in the industrial base of the Middle
East.
Vopak and Zamil Group believe that developing world class independent bulk liquid storage terminals at strategic
locations will be a significant contributing factor in providing the high quality logistic services required for the
region's continuing development.
