Dubai - Horizon Terminals Limited (HTL), Emirates National Oil Company's (Enoc) independent terminals company, will start construction works on its $200 million bulk liquids terminal in Singapore with the groundbreaking ceremony to be held next month, a top Enoc official said.
According to Hussain Sultan, chief executive and board member of Enoc, who spoke to this correspondent, the contract for consultancy has been awarded to Singapore's Jurong Consultants earlier this year by Horizon Singapore Terminals Limited (HSTL) a joint venture between HTL, which has 52 per cent stake, Kuwait's Independent Petroleum (15 per cent), the UAE's Boreh International (eight per cent), Holland's Martank (10 per cent) and South Korea's SK Energy Asia (15 per cent).
He said building of the HSTL terminal on 30 hectares of land at Banyan, Jurong Island will take 18 months to complete and once operational it will be able to handle Class 1, 2 and 3 petroleum products. The terminal's first phase will have 30 tanks, providing 840,000 cubic metres of storage for liquid petroleum products, with an option for an additional three tanks, delivering an extra 120,000 cubic metres of capacity.
He also said that four additional berths would be constructed in the first phase enabling the berthing of partially laden very large crude carriers (VLCCs) as well as small barges for bunker or cross-port trades, adding that Jurong Consultants has been working closely with Enoc Engineering and Construction since 2003.
HTL was established to meet growing regional and international demand for independent terminal facilities and management. On its launch in 2003, the fully-owned Enoc subsidiary had an authorised capital of $50 million. It aims to set up and develop a network of terminals by building, acquiring or managing bulk liquid storage facilities in the oil, chemical, LPG and vegetable oil sectors and become a global player by 2010.
Currently Enoc has a network of four "Horizons", including Horizon Terminals Limited in Jebel Ali, Vopak Horizon Fujeirah Limited, Horizon Singapore Terminals Limited and Horizon Djibouti Terminals.By Jamila Qadir
© Khaleej Times 2005
