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UAE’s Port of Fujairah plans Dhs750m upgrade and expansion project

UAE’s Port of Fujairah plans Dhs750m upgrade and expansion project

It will be carried out over two years and will increase the port’s oil-handling capacity

fujairah port

The Port of Fujairah is set to embark on a two-year plan to invest around Dhs750m to expand and upgrade its oil-handling infrastructure, reported news agency WAM.

This announcement was made by Khalil Ibrahim, chief financial officer of the port, on the sidelines of International Petroleum Week in London.

The port is the second-largest ship bunkering hub in the world and currently has an oil-handling capacity of 700 million barrels annually.

Ibrahim has indicated that they are currently assessing the requirements of the port and consulting its clients to understand how best to invest the planned amount.

The expansion project aims to increase the operational efficiency of the port, improve its quality of service, provide job opportunities for UAE nationals and support various economic sectors.

“These plans are part of the port’s long-term strategy derived from the Government of Fujairah’s directives to always be ahead of the market demand which ultimately aims to maintain the port’s status as one of the leading petroleum ports in the world,” said Ibrahim.

Read: UAE’s Brooge plans to expand storage and refining capacity

In February, UAE’s Brooge Holdings furthered its plans to expand its storage and refinery operations in Fujairah by signing a land lease agreement with Fujairah Oil Industrial Zone.

Read: UAE’s Brooge Petroleum to expand crude storage capacity

Brooge Petroleum and Gas Investment Co. plans to expand its crude-storage capacity six-fold at the Middle Eastern port of Fujairah to meet ‘huge’ demand at the busiest oil-trading hub in the region.

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