International logistics group HOYER is setting up a joint venture with the Globe Marine Group of Saudi Arabia and the Sharaf Group of the United Arab Emirates with a view to implementing intermodal liquid bulk transportation in the region.
The companies concerned signed an agreement to this effect in May in Dammam, Saudi Arabia.
The new joint venture will be named and branded as HOYER Saudi Arabia and will start operating immediately, with a head office located in Dammam and branches in Al Jubail and throughout Saudi Arabia.
It will coordinate and implement intermodal liquid bulk transportation in Saudi Arabia and Gulf Cooperation Council (GCC) countries, a third party drumming plant in Al Jubail, and focus on on-site logistics projects for the petrochemical industry.
To put in place the prerequisites for the development of a logistics network in the region and open up new business opportunities, HOYER Saudi Arabia will invest in liquid bulk equipment and in the construction of an independent drumming plant in Al-Jubail.
A substantial number of 20ft swap ISO tank containers will be positioned from Europe to Saudi Arabia and will be domesticated in the Kingdom for the start-up phase.
From day one, HOYER notes, the new joint venture will be in a position to cater for the demands generated by the continuing expansion of petrochemical production in Saudi Arabia.