Gulf Petrochem Group to invest Rs 340 crore to expand Fujairah Terminal

摘要

Gulf Petrochem Group, a leading player in the oil industry, plans to invest Rs 340 crore (US$ 50 mln) towards the expansion of its Fujairah terminal to raise its capacity to 655,280 cubic metres (cbm), up from current 412,000 cbm by March 2017. The Gulf Petrochem Fujairah Terminal is strategically located and connects to Port of Fujairahs common matrix manifold and able to handle various vessels. It currently has a storage capacity of 412,000 cbm with 17 tanks ranging from 13,000 cbm up to 40,000 cbm, handling Class III petroleum products such as fuel oil and gas oil to name a few with 348,000 cbm dedicated to fuel oil across ten tanks. Following the expansion, earmarked for completion in March 2017, the group will increase its storage capabilities by 243,280 cbm bringing total capacity at its Fujairah terminal to 655,280, across tanks with a capacity ranging from 9,000 cbm and 37,699 cbm.