US firm to set up first FCC plant in Abu Dhabi
Maryland (US), March 24, 2012
US-based WR Grace & Company has signed a joint venture deal with Al Dahra Agricultural Company to build and operate the region's first fluid catalytic cracking (FCC) catalysts and additives plant in Abu Dhabi.
Grace is a leading global supplier of catalysts; engineered and packaging materials; and, specialty construction chemicals and building materials.
The joint venture production plant will be used to supply oil refiners in the high growth Middle East and South Asia markets.
According to Grace, there will be 16 FCC units built in these regions in the next five years, which would increase the catalyst opportunity in the region by approximately $150 million.
The plant would be the first FCC catalysts and additives plant in the region, and is an important step for Grace to reinforce the reliable and timely distribution of FCC catalysts and additives to refineries in the region, according to a senior official.
Shawn A. Abrams, the president, Grace Catalysts Technologies, said, “This joint venture will leverage our strengths in the FCC segment with the strong local relationships of Al Dahra and their expertise in logistics and infrastructure support. This investment will allow us to capture growth in the Middle East and Asia and optimize our capacity in other regions.”
Abrams pointed out that the growth in the region would be more than adequate for the capacity of the new plant by the time it is anticipated to come onstream in late 2015.
Grace, he said, employs 6,000 people in over 40 countries and had 2011 net sales of $3.2 billion.
"The company’s three industry-leading business segments—Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products—provide innovative products, technologies and services that enhance the quality of life," he stated.
Khadim Al Darei, the vice chairman & MD of Al Dahra, said, “This joint venture represents another milestone in the company’s strategy to diversify its service offering and reinforces the commitment of its leadership to ensure sustainable national economic growth.”
"Al Dahra is a leading company specializing in agriculture and animal production. With global operations, farms and production facilities in the Americas, Europe, Asia and Africa, it is considered as the premier supporter of the stable supply of high quality forage, fresh produce, dairy products and commodities to the local and regional market," he added.-TradeArabia News Service