Fujairah: A ceremony was held in Fujairah on Wednesday to celebrate the resumption of work on the Fujairah refinery, the UAE's only oil refinery on the East Coast.
Last May an agreement was signed by the Government of Fujairah giving the Vitol group of companies a majority controlling interest in the Fujairah Refining Company Limited (FRCL).
This makes the Fujairah refinery the sole privately owned oil refinery in the Gulf, officials say.
His Highness Shaikh Hamad Bin Mohammad Al Sharqi, Member of the Supreme Council and Ruler of Fujairah, was present to celebrate the resumption of work at the refinery, which was closed in the late 1990s.
Shaikh Hamad also inaugurated the construction in the complex of 20 storage terminals, being built with an investment of $100 million.
Ian Taylor, president of the Vitol group, promised to use the company's expertise to further develop the joint venture.