Singapore's Chemoil set for Fujairah storage expansion

20 October 2010

Singapore-based Chemoil has announced plans to expand its storage capacity in the UAE port of Fujairah

Singapore-based Chemoil has announced plans to expand its storage capacity in the UAE port of Fujairah to 675,000 cubic metres from the current 90,000 cubic metres, and has taken a $90m loan from banks in Abu Dhabi, Dubai and Singapore to fund the project, Reuters has reported. The project is a joint venture with UAE-based Gulf Petrol Supplies and is expected to cost $130m on completion in 2012.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.