ENOC's Horizon Terminals commissions new oil terminal in Fujairah
Horizon Terminals Limited (HTL), the terminals business and wholly owned subsidiary of Emirates National Oil Company (ENOC), announced that its new oil terminal in Fujairah, built at a cost of more than US$100 million, will be commissioned at the end of May 2013.
As the eleventh terminal of HTL, the new Fujairah facility has a storage capacity of more than 240,000 cubic meters, and will significantly contribute to further establishing the Emirate as a regional hub for the oil and gas trade. The new terminal is linked directly to the Port of Fujairah oil tanker berths, and has 10 bays of tanker truck loading racks, associated facilities, an advanced maintenance workshop, and marine receipt and loading pump house.
Equipped to meet the growing demand for storing bulk liquid oil products such as fuel oil, naphtha, gasoline, gas oil, jet fuel and LPG, among others, the new terminal in Fujairah is the second such facility of HTL in the emirate. It is also the sixth terminal of ENOC in the UAE, with another new terminal being developed in Jebel Ali with a storage capacity of more than 141,000 cubic meters.
Saeed Khoory, CEO of ENOC said, “The new oil terminal in Fujairah is of strategic importance to the energy sector of the region, and in further establishing the Emirate as a key regional hub in the oil and gas trade. Our investment in this new facility marks our commitment to support the Fujairah Government’s strategic growth vision, and also add value to our stakeholders.”
HTL manages more than 6 million cubic meters of storage with a network of 10 other terminals located in various markets, including the UAE, South Korea, Singapore and Morocco. It provides world-class terminal services for bulk liquids storage as well as a range of value-added logistics services.
HTL aims to become the largest independent terminal service provider in the bulk oil storage industry in the Middle East, Africa and the Mediterranean while maintaining a leading position in the Far East region.
(May 30, 2013)
