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DP World has signed a deal with Dow Chemical to provide storage and shipping facilities at Dubai’s Jebel Ali Port
Though officials from both companies have not revealed details of the deal, Dow Chemical UAE head and regional finance chief Moosa Al Moosa spoke about its significance, stating that he would require more warehouses and containers, as there could be products worth US$1.5bn that have to be stored at the Jebel Ali Port.
Consequently, there could also be a tenfold increase in Dow Chemical’s storage and handling requirements, he added.
In addition, Dow Chemical’s Dubai office is expected to be the trade centre in the region, which would cater to the India, Africa and Middle East markets. The office is expected to handle products from its coatings plant at Jebel Ali Free Zone, said local reports.
The deal between DP World and Dow Chemical follows the latter’s increased investment in the petrochemical plant at Jubail Industrial City, Saudi Arabia. The plant, touted to be the largest single-construction petrochemicals complex, is one of two key strategic plants for Dow Chemical. The first production of polythene is scheduled to come onstream by the end of this year, with full site operations on track for the end of next year.