Sadara Basic Services, JCSSC ink SAR 1.8 bln tank storage deal
Sadara Basic Services Co., a wholly owned subsidiary of Sadara Chemical Co. (Sadara), will sell tank storage facilities to Jubail Chemical and Storage Services Co. (JCSSC) for SAR 1.76 billion as part of an agreement reached between the two companies on Thursday.
Under a separate agreement, JCSSC will provide bulk storage and product handling services to Sadara at the King Fahd Industrial Port in Jubail. Sadara will pay JCSSC fees related to financing, storage, operations and utilities.
Sadara is a joint venture between Saudi Arabian Oil Co. (Saudi Aramco) and Dow Chemical Co.