Emarat set to lease Fujairah oil storage capacity
Dubai, June 8, 2011
United Arab Emirates' fuel retailer Emarat will have 263,000 cubic meters of oil storage capacity at the UAE port of Fujairah, which will be ready for leasing by September, the company said on Wednesday.
'Emarat is in the final stages of expanding its existing facilities at Fujairah Terminal within Fujairah Port,' it said in a document inviting the interested parties to provide information about their operations.
The companies are required to submit this information by June 14, after which they will be invited to submit a formal proposal, Emarat said. It did not ask for commercial bids or rates at this stage.
Emarat's terminal has been designed to handle refined oil products such as gasoil, jet fuel and fuel oil and will have a total of 13 tanks ready for leasing when completed.
Located on the east coast of UAE, the world's third-largest oil exporter, the port of Fujairah has been emerging as an oil storage hub, with international companies increasingly trying to capture storage space for shipping out to Asia.
Emarat also has oil storage terminals in UAE's Jebel Ali port and other two emirates; Sharjah and Ras al Khaimah.-Reuters