25 2013 |
Horizon Terminals Ltd to commission US$100 million new oil terminal in Fujairah
Horizon Terminals Limited (HTL), the terminals business and wholly owned subsidiary of Emirates National Oil Company (ENOC), today announced that its new oil terminal in Fujairah, built at a cost of over US$100 million, will be commissioned at the end of this month.
The eleventh terminal of HTL, the new Fujairah facility has a storage capacity of over 240,000 cubic metres, and will significantly contribute to further establishing the Emirate as a regional hub for the oil & 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 over 141,000 cubic metres.
Saeed Khoory, Chief Executive Officer, 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 & 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.
“Today, ENOC is fast evolving as a strong and diversified business entity, and Horizon Terminals plays a key role in economic diversification and in building a strong network of terminal operations globally. We thank the Government of Fujairah for their continued support and are honoured to partner in the Emirate’s impressive social and economic growth story.”
Located on the west side of the Fujairah-Khorfakhan Highway, the new Fujairah Oil Terminal has been built by Singapore-based EPC contractor M/s Audex PTE Ltd in 22 months, with 2.6 million safe man hours. It is developed to the highest environment, health and safety standards adhering to NFPA and other international codes.
HTL manages more than 6 million cubic metres of storage with a network of ten 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 in the Middle East, Africa and the Mediterranean while maintaining a leading position in the Far East region.