Horizon Terminals Limited, a subsidiary of Emirates National Oil Company (Enoc), has inaugurated its new Dh667 million ($180 million) storage facility in Tangier province of  Morocco.

The new Horizon Tangier Terminals (HTL) facility has a capacity to handle 508,000 cubic metres of petroleum products.

It is strategically located on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean Sea meets the Atlantic Ocean, said a statement from Enoc.

It is located at the crossing of two major maritime routes, and well positioned to draw on business with Europe, with the facility only 15 km from the European Union.

The new HTL facility can store petroleum products including fuel oil, gasoline and gasoil with a total capacity of 508,000 cubic metres, and also has access to road tankers and vessels.

The terminal is equipped with two berths of 30,000 DWT to 70,000 DWT in addition to eight truck loading bays for petroleum products, rail wagon loading, blend plant and recirculation systems, it added.

Fouad Douiri, Minister of Energy, Mines, Water & Environment; Aziz Rebbah, Minister of Infrastructure & Transport; Mohamed Najib Boulif, Deputy Minister to the PM in charge of General Businesses & Governance; Abedlkader Aâmara, Minister of Industry Trade & New Technologies; Mohamed Hassad, Governor (Wali) of Tangier Province and Saeed Abdulla Khoory, the Enoc CEO attended the launch ceremony.

Commenting on the launch, Khoory said: “HTL not only highlights the growing footprint of our storage business internationally, but is a strong indicator of the Enoc’s international expansion plans.'

'The terminal will contribute to the overall social and economic growth of Morocco, drive foreign trade and open up new opportunities for business in the petroleum sector. Enoc is committed to introducing global best practices at the terminal,' he added.-TradeArabia News Service