Horizon Tangiers Terminals (HTTSA), a part of the Horizon Group, is starting construction of a strategic bulk oil storage facility at the new Tangiers Mediterranean port of Morocco.

HTL has awarded the EPC construction contract to the construction division of Bateman Litwin, a leading provider of innovative turnkey solutions for the global oil and gas sector.

The Euro 90 million ($131.1 million) terminal, to be built in two phases, will ensure a steady supply of bunker products to vessels calling at the Tangier Med port and will provide an important route for diesel and petrol for the Moroccan market, said an official spokesman.

Phase 1, costing approximately Euro 70 million, will consist of 370,000 cubic metres of storage and is expected to be completed by mid-2009.

“To meet projected demand, we are also looking at an immediate expansion to reach 500,000 cubic metres of storage at an additional investment of about Euros 20 million,”  said ENOC Group CEO Saeed Khoory.

Horizon Tangiers Terminal, a consortium of Horizon Terminals Limited, an ENOC subsidiary, Kuwait-based Independent Petroleum Group (IPG) and Morocco’s Afriquia SMDC, were awarded the concession to build and operate the bulk fuels terminal by the Tangier Mediterranean Special Agency (TMSA) in 2006.

“With its strategic location at the entrance to the Mediterranean and excellent connections to Europe, Tangier Med port is set to emerge as a major bunkering hub and refuelling port in the global ship movement. HTTL will help position Tangier Med as the logistics hub for Europe and will provide cheaper fuel to North Morocco,” said CEO of Horizon Group Yusr Sultan while announcing the awarding of the contract in Morocco.

He further added that the terminal would provide extensive employment and career opportunities to Moroccans.

“Relations between Morocco and the Gulf region have been growing significantly in recent years. Dubai-based Emaar has made significant investments in Morocco’s real estate sector, and Dubai World, another of Dubai’s monumental institutions, has been advising TMSA on its proposed free zones,” Sultan added, expressing HTTL’s appreciation of the ongoing investment and development drive in Morocco. – TradeArabia News Service