The UAE’s Emirates General Petroleum Corporation’s (Emarat) on 6 July announced the completion of its fuel bunkering terminal upgrade in the emirate of Fujairah.
Emarat’s storage capacity in Fujairah now stands at 260,000 cubic metres, up from 50,000 cubic metres.
The upgrade comprises 10 storage tanks, as well as associated pipelines and infrastructure, at a cost of AED300m ($82m), according to an Emarat statement.
The project was split into two packages. India’s Tata Projects constructed the storage tanks, the pumps and a some of the blenders and piping
Chicago Bridge & Iron Company (CB&I) built additional pipelines, blenders and completed the civil and electro-mechanical works and associated facilities.
The terminal is able to store gasoil, gasoline and jet fuel. Its location allows Emarat to supply commercial ships anchored in Fujairah, says the company.
The company is currently managing five terminals with a total capacity of 383,000 cubic metres across the UAE, and co-managing a further two with international partners with a total storage capacity of 285,000 cubic metres.
State-owned Emarat recently received an AED9bn cash injection from the federal government, boosting its capital by 50 per cent.
The fuel retailer had been making losses by supplying petrol at subsidised prices, while having to buy at higher prices on the international markets. This loss margin was increased by the recent hike in crude prices in response to the popular unrest in the Arab world.