Horizon Terminals Limited (HTL) has announced its new $100 million oil terminal in Fujairah will be commissioned at the end of the month.
What will be the eleventh terminal for HTL, a wholly owned subsidiary of Emirates National Oil Company, the base will be linked directly to the Port of Fujairah’s oil tanker berths.
The terminal will have a storage capacity of over 240,000 cubic metres and will be HTL’s second project in the emirate.
“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,” said Saeed Khoory, CEO, ENOC said.
“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.
“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,” he added.