Tristar Group, a Dubai-based logistics company, has acquired Shell Chemicals’ terminal in Jebel Ali Free Zone (Jafza) in what it said is “a bid to consolidate its presence at the free zone,” according to a statement released on Tuesday.
The deal was signed on July 31, between Eugene Mayne, group CEO for Tristar, and Jack Eggels, general manager for Chemical operations at Shell Europe, Middle East and Africa.
“We are very proud of this acquisition which has strategic importance not only for us a company but also to our customers who can now have access to a truly turnkey and fully integrated distribution service,” Mayne said in a statement.
The Shell Chemicals terminal is situated on a 21,000 square metres lot and consists of nine above-the-ground storage tanks with a capacity of 5,505 cubic metres.
Under the terms of the deal, Tristar will undertake a capacity expansion and terminal modernisation programme over the next five years which will see the capacity expansion to over 25,000 cubic metres and designed to house a wide range of all types of solvents and industrial chemicals.
Shell will continue to remain a customer under the terms of the agreement.