Horizon Terminals Limited (HTL), a leading terminal services provider and a wholly owned subsidiary of Emirates National Oil Company (Enoc), has identified Malta as the next destination for its new terminal.

Malta is the Mediterranean hub for shipping lines, located at the crossroads of some of the world’s busiest shipping routes that carry over 120 million tonnes of oil products.

The new terminal of HTL is located near the Marsaxlokk Port and will feature advanced equipment, a statement said.

It will have a capacity of 600,000 cu m for black and clean products, with one jetty for VLCCs (very large crude carrier) and two for vessels up to 120,000 DWT.

“This is significant move that will consolidate HTL’s position as a global leading terminal operator,” said Saeed Abdullah Khoory, Enoc’s group chief executive.

“Enoc’s investment in this facility through HTL, reiterates our confidence in Malta as a strong business model and as our gateway to the European market. We are confident that such investments will put us in good stead to take advantage of growth opportunities offered by Europe’s oil sector.”

HTL is in the process of obtaining the necessary permits, including the EIA permits. The work on site is planned to commence in the second half of 2011, the statement added. – TradeArabia News Service