JYIC inks partnership deal with SABIC, Vopak to own 20% stake in Chemtank

JYIC inks partnership deal with SABIC, Vopak to own 20% stake in Chemtank

SABIC and Vopak Holding Terminals BV signed a partnership agreement with Jubail and Yanbu Industrial Cities Co (JYIC), owned by the Royal Commission for Jubail and Yanbu, under which JYIC will become a 20% stake partner in Jubail Chemical Storage and Services Company (Chemtank).The agreement aims at strengthening strategic integration among the three parties to scale up the scope of collaboration between local and international organisations. This will ultimately help achieve the goals of the National Industrial Development and Logistics Program, a key part of Saudi Vision 2030.Commenting on the event, Abdullah Al-Saadan, president, Royal Commission for Jubail and Yanbu, said that JYIC enables the Royal Commission to make optimal use of its assets and provide services in the Royal Commission cities,