Sign up
Log in Sign up
Thu 16 Dec 2010, 18:28 GMT

Fujairah to receive $1bn development funding


UAE government to invest $1 billion in development projects over the next three years.

The UAE government has announced that Fujairah is set to receive Dhs4 billion ($1.09 billion) from the federal budget to invest in 35 development projects over the next three years.

The announcement was made by UAE prime minister and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum during a visit to the emirate where he toured a section of the 400 kilometre Habshan-Fujairah crude oil pipeline project, which is almost complete and scheduled to begin transporting Murban blend crude oil on a trial basis later this month.

News of the $1 billion investment will be a boon for Fujairah, already the leading bunkering hub in the Middle East and second only to Singapore in terms of supply volumes. The port has become a major hub for fuel storage and expansion plans at Fujairah include increasing total storage capacity to around eight million cubic metres of fuel, and doubling the number of tanks.

The federal budget is due to be allocated between 2011 and 2013, state news agency Wakalat Anba'a al-Emarat (WAM) said.

United Arab Emirates  Fujairah (AE) 
RINA employee on board vessel. RINA unveils Mermaid propulsion concept to navigate uncertain decarbonisation landscape  

Fuel-agnostic design claims savings of more than 1,000 tonnes per year in some applications.
Adinkerke and Aalter naming ceremony. Exmar names third and fourth dual-fuel ammonia-powered vessels  

Midsize gas carriers Adinkerke and Aalter named at formal ceremony.
Professor Lynn Loo, GCMD. GCMD outlines practical approach to quantity assurance in marine biofuel supply chains  

New report addresses verification of both total fuel volume and renewable content in biofuel transactions.
Steel-cutting ceremony of London Express class vessel. Hapag-Lloyd cuts steel for first vessel of new London Express class  

16,800-TEU LNG dual-fuel vessel is first of 12 newbuildings in the class.
Vessels at sea. DNV report warns regulatory uncertainty complicates fleet investment decisions  

CEO urges greater clarity to provide the confidence needed for long-term investment.
Blue Whale NxtGen Energy battery system. Corvus Energy launches LFP battery system developed with BYD Energy Storage  

Blue Whale NxtGen Power targets tugs, ferries and workboats with high power demand.
Welcome ceremony of Yampu vessel. World’s first battery-powered self-unloading bulk carrier enters service in Australia  

MV Yampu connects South Australia’s limestone trade with a battery-electric propulsion system.
Skipanes vessel. E-methanol-ready ro-ro vessel delivered to Smyril Line  

190-metre vessel is built for year-round North Atlantic operations and designed for future e-methanol conversion.
Belgium flag. Sunoil Biodiesel secures approval to supply biofuels in Belgium  

Dutch biofuel supplier expands its European footprint with Belgian market entry.
Tacoma Maersk naming ceremony. Maersk takes delivery of dual-fuel methanol-capable Tacoma Maersk in China  

9,000-TEU vessel is one of six mid-sized dual-fuel ships joining Maersk's fleet.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



 Recommended