Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company, has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations.
The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc Logistics and Services as a new integrated entity, following the integration of Irshad, Esnaad and Adnatco into a single Adnoc operating company.
Under the terms of the contract, Adnoc Logistics and Services will carry out all handling operations of Borouge’s packed and palletised products and bulk loaded containers.
Adnoc Logistics and Services will handle up to 800,000 TEUs (Twenty-foot Equivalent Units) per annum with skilled labour and management expertise and operational excellence in compliance with the highest HSE standards.
The group's shipping unit is fully equipped to meet the increased production planned at Borouge’s plants in the next five years to meet the forecasted growing demand, especially in China and South East Asia, for high value polymers.
Senior VP of the Services unit, at Adnoc Logistics and Services, Abdul Aziz Mohamed Al Zaabi, said: "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."
"Following the unification of our shipping and marine services operations our focus continues to be on servicing the Adnoc business and international clients to the highest standard, without compromising our HSE commitments," he noted.
"Looking ahead, as part of Adnoc’s 2030 strategy, we are expanding our powerful offering to customers outside of the Adnoc network, first regionally and then globally," said Al Zaabi.
Adnoc, he stated, was 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," he added.