Qapco, Qatofin ink logistic services agreement for handling and warehousing in China

26-Oct-10

Within the framework of strengthening its solid presence in China, Qatar Petrochemical Co. (Qapco), Qatofin have signed a logistic services agreement with Kerry Talke Chemical Logistics (Shanghai) Limited for Qapco's and Qatofin's Products handling and warehousing in China. Qapco and Qatofin have already established four representative offices in China; Hong Kong, Shanghai, Beijing and Guangzhou, however, its initiative to support these offices with a logistics facility stems from the great importance it attaches to this rapid growing strategic market, where there is an increasing demand on its petrochemical products. Mr. Abdulrahman Ali Al-Abdulla, Qapco's Group Manager, Commercial & Marketing, stated that this agreement is not just a regular partnership agreement, but it is considered a major milestone in Qapco's & Qatofin's history, and one of the biggest logistics contracts for the company. "Establishing Qapco and Qatofin's logistics facility in China will definitely help us meet our customers' demands and expectations as these warehouses will enable Qapco & Qatofin to gain faster access to its customers in the region." Qapco is a leading company in the ethylene, polyethylene markets in the Middle East and it is anxious to reinforce that position and strive towards increasing its share in the world markets, the company is currently producing 800,000 tpa ethylene and 400,000 KMTA of Polyethylene (LDPE). After the start up of LDPE-3, the total LDPE production capacity would be increased to over 650 KTPA. This project is still under construction, with a capacity of 250,000 tpa expandable to 300,000 tpa at at Mesaieed Industrial City (MIC). It is forecasted to be completed by the end of 2011.