UAE-based Gulf Petrochem Group has announced that it has recently started construction on the Pipavav Oil Terminal, a state-of-the-art liquid cargo storage terminal in Gujarat state, India.

The new oil 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 the Pipavav Oil Terminal also underlines the 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.

“Gulf Petrochem’s Pipavav Oil Terminal is strategically located in southern Gujarat, giving us a logistical advantage and putting us in a strong positioning to take advantage of India’s abundant northwest markets,” said group chief executive Sanjeev Sisaudia.

“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.”

Gulf Petrochem has emerged as a fast growing group expanding globally into various verticals of the oil industry. It currently operates six strategic business units namely Oil Trading & Bunkering, Oil Refining, Grease Manufacturing, Oil Storage Terminals, Bitumen Manufacturing, and Shipping & Logistics. It has refining and storage facilities at Hamriyah-Sharjah in the UAE. Gulf Petrochem’s bulk shipments are serviced by three owned vessels. The group has offices in Dubai, Singapore, Mumbai and Geneva.