Abu Dhabi: Gulf Petrochem Group has announced details of its expansion of the Fujairah terminal ahead of its Engineering, Procurement and Construction (EPC) tender expected to go out to market early next week. The project, whose total cost is $50 million (Dh183.65 million), is set to start in April 2016.
The group will increase its storage capabilities by 243,280 cubic metres (cbm), bringing the total capacity at its Fujairah terminal to 655,280 cbm, across tanks with capacities ranging from 9,000 cbm to 37,699 cbm.
The additional capacity to be added will enable the group to store Class I products.
According to the company, the Gulf Petrochem Fujairah Terminal 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, and 348,000 cbm dedicated to fuel oil across ten tanks.
Prerit Goel, group director and board member at the Gulf Petrochem Group, said, “As a group we are extremely pleased to be in a position to be able to continue with our projects amidst a climate of low oil prices and uncertainty in the market. Upon completion of the expansion of our terminal in Fujairah, and complimented by our existing storage facilities in Hamriyah, Sharjah and Pipavav, India, the group will boast a total capacity of over 1,100,000 cbm.”
