By Staff writer
Two-year project will expand and upgrade oil handling infrastructure
The Port of Fujairah is to invest AED750 million ($204.2m) over the next two years to expand and upgrade its oil handling infrastructure.
Khalil Ibrahim, chief financial officer at the port, said they are consulting clients to understand their expansion plans, which may require the port to increase its oil handling capacity, from the current 700m barrels annually.
The plans, he added, would increase operational efficiency and improve service.
"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," Ibrahim said.