EMEA News
Fujairah Fuel Storage Terminal Opens
Fujairah ruler Sheikh Hamad bin Mohammed Al Sharqi Wednesday inaugurated a new fuel terminal in the emirate, Emirates news agency WAM reports.
Fujairah Oil Terminal FZC is said to be jointly owned by the Fujairah Government, Sinomart KTS Development Ltd. (Sinomart KTS) and Concord Energy Pte Ltd. (Concord).
In 2013, Sinomart KTS bought a 50 percent stake in the terminal company.
The new storage facility is said to have capacity for 1.177 million cubic metres of fuel.
It is said to feature 34 reservoirs, complying with international quality standards and equipped with modern technology.
Al Sharqi is said to have praised the project as an economic success story for the emirate, adding that international cooperation was essential for such projects.
He hoped Fujairah Oil Terminal FZC would enhance the status of Fujairah and its ports, in terms of a hub for energy and oil product storage.
This week, Port of Fujairah's General Manager was said to have inaugurated the seventh expansion phase of Vopak Horizon Fujairah's crude oil storage facility in the emirate.
