Enoc secures $100m financing for Dubai jet fuel pipeline

19 June 2012

Enoc subsidiary Horizon Terminals agrees 10-year facility with local and international banks

Emirates National Oil Company (Enoc) subsidiary, Horizon Terminals, has secured $100m to finance its jet fuel pipeline project in Dubai, UAE.

Horizon agreed the 10-year Islamic term financing facility with Standard Chartered Bank, Emirates NBD and Noor Islamic Bank.

The 60-kilometre pipeline project will link the new bulk liquid petroleum terminal in Jebel Ali Free Zone with Dubai International airport, and includes airport oil terminal facilities with a storage capacity of 141,000 cubic metres.

India-based Punj Lloyd won the engineering, procurement and construction (EPC) contract for the project earlier this year.

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