FUJAIRAH, 21st September, 2016 (WAM) H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, opened on Wednesday afternoon the UAE's first berth for very large crude carriers (VLCC) on the Indian Ocean seaport of Fujairah, at cost of AED650 million.

The Ruler of Fujairah stressed the keenness of the UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to focus on the vital and strategic projects in the state and strengthen the economic position at the international level. He added that the strategic location of Fujairah puts the name of the emirate and the UAE on the regional and international energy oil trade map.

Sheikh Hamad welcomed the strategic investment partnerships in the development of the Port of Fujairah, which he said would have an effective contribution to the field of maritime ports on the global level, as well as a strong role to supporting the UAE economy.

The inauguration of the VLCC will enable the Port of Fujairah to develop its services, in light of the growing global oil consumption demand, to achieve the economic goals, which were set thirty years ago, he noted.

The directives of the Ruler of Fujairah contributed to the development in the emirate in all the economic, social and service areas, the Crown Prince of Fujairah said. He stressed the importance of a holistic plan for the Emirate of Fujairah for year 2040, which keeps pace with the urban growth and promotes the economic growth of the emirate.

The inauguration of the first berth (VLCC1) of oil supertankers in the emirate, will provide an integrated support to the demand for energy in the state, and also enhance the status of the UAE as one of the most influential players in the global oil market, Sheikh Mohammed said.

The new berth is one of the largest at the global level, while the Port of Fujairah, is the second largest port for bunkering in the world, and plans to increase the storage of petroleum products capacity by 55 percent to reach 14 million cubic metres by 2020.

The event was attended by H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah; Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Department of Industry and Economy in Fujairah; Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, and Saeed bin Mohammed Al Raqbani, Special Adviser to the Ruler of Fujairah.

Copyright Emirates News Agency (WAM) 2016.