Industrial and medical gas solutions provider Gulf Cryo has signed a 20-year long-term agreement with International Maritime Industries (IMI) to store and supply industrial gases.
IMI is the anchor facility at King Salman International Complex for Maritime Industries and Services, the largest shipyard globally, located in Ras Al-Khair, Saudi Arabia.
Gulf Cryo’s vice chairman Eng. Abdulsalam Al Mazro and chief commercial officer Georgios Beretsos signed the agreement during the three-day IKYVA 2022 Forum in Saudi Arabia’s Dhahran.
Under the agreement terms, Gulf Cryo will store and supply industrial gases to the four zones of IMI’s production facilities on a build-own-operate model. The CO2 capturing plants will be completely operational from Q1 2023, while operations and supply will start in 2022.
Commenting on the agreement, Gulf Cryo’s Beretsos said: “We are proud to support IMI’s localisation initiative in the Kingdom of Saudi Arabia, and this collaboration signifies our commitment to being a key part in the supply chain development and sustainability drive.”
Gulf Cryo’s commitment towards Vision 2030
The company stated that its comprehensive knowledge and operational excellence play a significant role in producing and supplying onsite industrial gases as well as in serving IMI’s commitment towards its localisation, and development and diversification initiatives in line with the objectives outlined under Vision 2030.
“This illustrates Gulf Cryo’s ability to meet the stringent requirements of any industry wherever the company operates,” Beretsos added.
With over 65 years of experience in industrial gas solutions, the company is leading the initiative in decarbonisation through capturing and purifying industrial carbon emissions. This is in return utilised for food-grade gas applications in food & beverage and agriculture industries, and in desalination.
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