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Sat 30 Oct 2010 07:00 PM

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UAE's Petrochem starts work at Fujairah oil terminal

412,000 cbm first phase is to be commissioned in the second quarter of 2012

UAE's Petrochem starts work at Fujairah oil terminal
FIRST PHASE: UAE based Gulf Petrochem has said that building has begun on the first phase of a new 1.2m cbm oil storage terminal at Fujairah port

UAE based Gulf Petrochem said it has started building the first phase of a new 1.2 million cubic metres oil storage terminal at Fujairah port.

The first phase, which is to be commissioned in the second quarter of 2012, would have a storage capacity of 412,000 cubic metres, the firm said in an emailed statement.

It added: "Subsequent phases will take the full capacity to 1.2 million cbm (cubic metres)."

In June, Petrochem awarded a $45 million contract for the first phase to Nico Hydrospace, a subsidiary of Topaz Energy and Marine, it said in a separate email.

Topaz is a subsidiary of Oman's Renaissance Services.

Petrochem has an oil terminal with 14 tanks with a total capacity of 35,000 cubic metres at Hamriyah Free Zone, in the UAE emirate of Sharjah. (Reuters)

 

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