EMEA News
Gulf Petrochem: We Are On a Development Spree
Sharjah-based Gulf Petrochem is on a "development spree" according to the company's Global Head of Terminals, Gulf News reports.
"We are aiming to become a $4 billion company by 2016 from $2 billion at the moment," said M Prabakaran.
"That's the vision we have for the company. We are on a development spree."
In January, Gulf Petrochem announced it would expand its bunkering operations by offering bunkers for delivery at Khor Fakkan.
Prabakaran said the company's focus would be on East Africa and Nigeria in 2015, and shift its focus to Europe and the U.S. in 2016, but he did not elaborate further.
He also said the company's newest oil terminal at Pipava, Gujurat, will open soon, adding momentum to Gulf Petrochem's expansion plans.
As well as its Terminals segment, Gulf Petrochem also trades oil products, offers bunkering services and handles shipping and logistics operations.
Last year the company bought a controlling stake in Indian lubricants manufacturer Sah Petroleums Ltd. and in doing so expanded into a new market.
