Tank farm should be operational by 2020 (file image/pixabay)
Earth Wealth Energy, a Dubai-based oil company, has plans to build a tank farm in Fujairah.
Distillates products and fuel oil will be stored at the farm with 350,000 cubic meters (cu m) allocated to the former and 200,000 cu m allocated to the latter, according to the company's website.
The facility, which should be operational by late 2019 or early 2020, is expected to be equipped to reduce sulfur content of fuel oil ahead of the uptick in demand for 0.5% bunker fuel from 2020.
A final decision on the investment will be made this year, the company has said.
Fujairah is among the top three global markets for bunker fuel.