Vinson & Elkins advised a Saudi Arabian based bulk chemical storage operator Arabian Chemical Terminals (ACT) on its entry into strategic agreements with Abu Dhabi Ports, the master developer of ports and industrial zones in the Emirate of Abu Dhabi, UAE.
Abu Dhabi Ports has signed a strategic agreement with Saudi-based Arabian Chemical Terminals, ACT, that will see the development of the emirate’s first greenfield commercial bulk liquid storage terminal at its flagship, deep-water Khalifa Port.
Serving as the first terminal to be developed by ACT in the UAE and specifically in Abu Dhabi, the facility’s strategic location and advanced facilities, which will deliver world-class logistics and industrial services, is expected to appeal to ACT’s current clientele that includes some of the world’s largest oil and gas firms. Both new and existing customers will be able to take advantage of Khalifa Port’s strategic location combined with its improved maritime, logistics, and industrial capabilities The agreement for the bulk liquid terminal, which will be developed on a 50,000 square metre land plot adjacent to 16-metre deep-water quay access, with an option for an additional 150,000 square metres of land, was signed by Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports and Rakan Alireza, Managing Director of Arabian Chemical Terminals Ltd and Deputy Managing Director of Reza Investment Company.
As per the agreement, the project is set to be completed in two phases with the first stage slated for commissioning in the second half of 2022 entailing the deployment of 44 storage tanks sized 1250 and 3000 tonnes each. The terminal’s second phase will commence following expansion of the surrounding area and will consist of a number of larger industrial storage tanks and spheres.
The V&E team was led by partner Ahmed el-Gaili (Picture), with assistance from partner Looaye Al-Akkas and senior associate Ibrahim Siddiki.
Law Firms: Vinson & Elkins LLP;
Clients: Arabian Chemical Terminals (ACT);