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Horizon Terminals Ltd. (HTL), the terminals business and wholly owned subsidiary of Emirates National Oil Company (ENOC), has announced that its new oil terminal in Fujairah, built at a cost of over $100m, will be commissioned at the end of this month.

The new Fujairah facility - HTL's eleventh terminal - has a storage capacity of over 240,000 cubic metres and looks set to significantly contribute to further establishing the Emirate as a regional hub for the trade of oil and gas.

The new terminal is linked directly to the Port of Fujairah oil tanker berths, and has 10 bays of tanker truck loading racks, associated facilities, an advanced maintenance workshop, and marine receipt and loading pump house.

Equipped to meet the growing demand for storing bulk liquid oil products, such as fuel oil, naphtha, gasoline, gas oil, jet fuel and LPG, the new terminal is the second such facility of HTL in the emirate. It is also the sixth terminal of ENOC in the UAE, with another facility being developed in Jebel Ali with a storage capacity of over 141,000 cubic metres.

Commenting on the project, Saeed Khoory, Chief Executive Officer, ENOC said: "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. 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.

"Today, 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. We thank the Government of Fujairah for their continued support and are honoured to partner in the Emirate's impressive social and economic growth story."

Located on the west side of the Fujairah-Khorfakhan Highway, the new Fujairah Oil Terminal has been built by Singapore-based engineering, procurement and construction (EPC) contractor Audex Pte. Ltd. in 22 months, with 2.6 million safe man hours. According to HTL, the facility has been developed to the highest environment, health and safety standards, adhering to NFPA and other international codes.

HTL manages more than 6 million cubic metres of storage with a network of ten other terminals located in various markets, including the UAE, South Korea, Singapore and Morocco. It provides terminal services for bulk liquids storage as well as a range of value-added logistics services.

HTL says it aims to become the largest independent terminal service provider of bulk oil storage in the Middle East, Africa and the Mediterranean while maintaining a leading position in the Far East region.