While the current global economy may not be ideal for the oil and gas sector, the outlook for chemicals and petrochemicals is a little more optimistic, especially here in the Middle East. The big reason for this optimism lies in plans unveiled by various players in the GCC to invest significant amounts of money into the industry.
Many companies are looking to leverage upcoming opportunities and are keen on using their experience and understanding of the market to good use by offering creative solutions. The Tristar Group is a prime example of this.
Tristar is a fully integrated liquid logistics solutions provider catering to the petroleum and chemical industries both within the region and globally. Located in Jafza, the company has been a player in the Oil & Gas and petrochemicals market since 1998. Its core expertise lies in its ability to safely handle and distribute all types of retail fuels, lubricants, chemicals, petrochemicals, and liquid gases.
Tristar and Jafza have a short but very involved history that began in 2016, and both companies have expressed an interest in further developing the UAE’s integrated liquid logistics segment. The most significant move recently was when Tristar acquired the Shell Chemicals terminal in Jebel Ali Port.
As part of the terms of the deal negotiated with Shell and Jafza, Tristar agreed to not only expand the terminal’s capacity but also undertake a modernisation programme over the next five years that will improve the facility’s ability to house and store a wider variety of solvents and industrial chemicals.
“When you let trade happen smoothly, everyone benefits”
Mohammed Al Muallem, CEO & Managing Director – DP World, UAE Region
“Movement of goods is one of the building blocks of any economy, which is why we have always prioritised creating the necessary infrastructure to ensure that this is an area in which the UAE holds a regional advantage. This is DP World’s door-to-door logistics solution. We have positioned ourselves across the supply chain to support our customers at every step with the most efficient multimodal hub created with Jebel Ali Port and Jafza.”
Tristar’s multi-logistics polymers facility is the first silo and bagging facility inside Jafza South and aims to provide faster delivery to markets with its direct access to Jebel Ali Port and Al Maktoum International Airport.
Eugene Mayne, Tristar Group CEO, explains: “We set up this facility with the intention of taking advantage of the Dubai Logistics Corridor created by Jafza. So far, it has not only lived up to our expectations, but has surpassed them.”
Setting up in JAFZA has proven to be one of the more profitable decisions we have made in recent times.
“We have a lot of plans in the pipeline,” Mayne added. “We are very excited about 2019. There are numerous opportunities on the horizon, and we intend to make the most of them”