Dubai: Vopak Horizon Fujairah is to expand its oil terminal's capacity by 360,000 cubic metres of new tankage and two new berths.

Following the expansion the oil terminal will have a capacity of 1.5 million cubic metres, six berths, and a single-point mooring system capable of handling larger vessels. The expansion is planned to become operational next year.

This expansion in the berths and tankage will enable Vopak Horizon Fujairah to further improve its hub-function in the Middle East for black and clean mineral-oil products.

"The economy of the UAE is growing at a tremendous rate and many investments are being made in facilities such as refineries. Fujairah's location, just outside the Gulf, is ideal," said Hussain M. Sultan, Group Executive and Board Member of the Enoc Group.

"I expect our growth to continue, in fact, we are already planning the sixth phase of our expansion."

Rob Nijst, Division President Vopak said: Fujairah has grown into one of the world's main bunker markets. Vopak Horizon Fujairah will be able to offer even more safe and reliable onshore storage facilities to our clients."