UAE-headquartered Gulf Petrochem Group said it has recently started construction of a hitech storage terminal for the handling and storage of liquid cargoes in bulk at Pipavav in the Indian state of Gujarat.

A leading player in the global oil industry, Gulf Petrochem said new liquid cargo storage terminal adds momentum to the company’s long-term expansion strategy because of its proximity to key rail and road networks, which offer direct access to critical markets in the hinterland, the northwest and central India.

The construction of Gulf Petrochem’s Pipavav Oil Terminal also underlines the Sharjah-based company’s growing presence in India, which is one of the company’s most lucrative international markets. The new terminal will cover an area in excess of 90,500 sq m.

Commenting on the move, Group CEO Sanjeev Sisaudia said, "Pipavav Oil Terminal is strategically located in southern Gujarat, giving us a logistical advantage and strongly positioning the company to take advantage of the country’s abundant northwest markets."

"This project will accelerate our expansion drive in key Asian markets, while strengthening Gulf Petrochem’s position as a leading player in the global oil space. We will continue to invest in major projects that will enhance our ability to provide reliable, tailor-made solutions at competitive prices, which will ultimately benefit our clients," he added.

Gulf Petrochem has emerged as a fast growing group expanding globally into various verticals of oil industry, currently operating six strategic business units of oil trading & bunkering, oil refining, grease manufacturing, oil storage terminals, bitumen manufacturing, and shipping & logistics.-TradeArabia News Service