New entity to offer specialty products and services to chemical and other process industries
Japanese multinational, Kurita Water Industries, through its subsidiary Kurita Europe GmbH, an international leader in water and process specialty chemicals, and UAE-based AquaChemie DMCC, a leading regional process industry player, have signed a strategic agreement to set up a joint venture company, under the name of Kurita AquaChemie, it was announced via a press communiqué.
The JV will leverage both companies’ complementary strengths for water and process treatment chemicals solutions for the refinery, petrochemicals, fertilizer, power and desalination, paper, and metal industries in the GCC region.
Kurita AquaChemie will be the single face for customers in the wider GCC region and is all set to offer solutions to customers, who will now benefit from technologically innovative Japanese programmes fully backed by local production, resources, and prompt customer service.
Two production plants
Kurita AquaChemie will operate two new production plants in Dammam, Saudi Arabia, and in Jebel Ali, Dubai, UAE. These two production sites were commissioned in H1-2020 and are expected to have a production capacity of about 230,000MT per annum in the initial phase.
An agreement to officially form the new joint venture was signed in Dubai by Lorenzo Carollo, CEO, Kurita Middle East, and by Subrato Saha and V. Anandkumar, Directors, AquaChemie DMCC, in the presence of top JAFZA officials.
Michiya Kadota, President, Kurita Group; Shingo Yamaga, Senior General Manager-EMEA and Americas Operations, Kurita Group and Jordi Verdés, CEO, Kurita EMEA, were also present on the occasion.
Local availability
The overall specialty chemicals market in the GCC region is currently pegged at more than US$ 350mn.
“This new joint venture company allows us to provide our innovation and technologies directly to our customers in the GCC, where there is a need for such solutions,” affirmed Yamaga.
“With this joint venture, a reality is born that will speedily bring the global innovations that Kurita develops, locally, to the GCC region,” asserted Carollo.
“AquaChemie has always strived to become a formidable player in the specialty chemicals space, with more than 25% year-on-year growth,” noted Saha.
“To achieve the sustainability targets of our customers, we rely not only on the technology we have but also on the knowledge of local markets’ specific needs. This is why the new joint venture is a perfect match for us,” concluded Verdes.
