Gulf Petrochem Group has declared details of its expansion of the Fujairah terminal ahead of its Engineering, Procurement and Construction (EPC) tender expected early next week. Total cost of the project is $50 million (Dh183.65 million), to begin in April 2016.
The group will be raising its storage capabilities by 243,280 cubic metres (cbm), expanding the total capacity at its Fujairah terminal to 655,280 cbm, across tanks with capacities ranging from 9,000 cbm to 37,699 cbm. Through the additional capacity the group will be able to store Class I products.
The company said, existing storage capacity at Gulf Petrochem Fujairah Terminal is of 412,000 cbm with 17 tanks ranging from 13,000 cbm up to 40,000 cbm handling Class III petroleum products like 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.
The group will be raising its storage capabilities by 243,280 cubic metres (cbm), expanding the total capacity at its Fujairah terminal to 655,280 cbm, across tanks with capacities ranging from 9,000 cbm to 37,699 cbm. Through the additional capacity the group will be able to store Class I products.
The company said, existing storage capacity at Gulf Petrochem Fujairah Terminal is of 412,000 cbm with 17 tanks ranging from 13,000 cbm up to 40,000 cbm handling Class III petroleum products like 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.