Port of Fujairah to invest Dh750m to expand, upgrade quays

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Published: Sun 1 Mar 2020, 6:17 PM

Last updated: Sun 1 Mar 2020, 8:23 PM

The Port of Fujairah, one of the world's key oil storage centres and the second largest ship refuelling centre in the world, is considering several options to invest some Dh750 million over the next two years to upgrade its oil handing infrastructure.
The announcement was made by Khalil Ibrahim, chief financial officer of the Port of Fujairah, on the sidelines of International Petroleum Week (IP WEEK) held in London.
Ibrahim stressed that the Port of Fujairah is consulting clients to understand their expansion plans, which might require the port to increase its oil handing capacity, which is currently 700 million barrels annually. He added that the planned expansion aims to increase the operational capacity of the port and improve its services, which is considered among the best in the world.
"These plans are part of the port's long-term strategy based on the directives of Fujairah's government, which aims to make it one of the leading petroleum ports in the world," Ibrahim added.
He also pointed out that the planned investment is part of the port's strategy to strengthen its businesses, achieve distinguished milestones, support various economic sectors, and provide job opportunities for UAE nationals from different backgrounds.
- business@khaleejtimes.com

By Staff Report

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