Tristar acquires Shell Chemicals terminal in Jafza
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 recently.
The deal was signed in July, 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 meters lot and consists of nine above-the-ground storage tanks with a capacity of 5,505 cubic meters.
Under the terms of the deal, Tristar will undertake a capacity expansion and terminal modernization program over the next five years which will see the capacity expansion to over 25,000 cubic meters 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.