Dubai-headquartered Horizon Terminals Limited (HTL), the independent terminalling company established by Emirates National Oil Company (ENOC) LLC of the United Arab Emirates, has awarded construction contracts for a US $200 million bulk liquids terminal to be built on 39 hectares of land at Banyan, Jurong Island in Singapore.
The contract for consultancy was awarded to Singapore's Jurong Consultants and made on behalf of Horizon Singapore Terminals Pte Limited (HSTL) - a joint venture to be incorporated in Singapore. Joint venture partners will include HTL (52%), Kuwait's Independent Petroleum Group (15%), Boreh International FZE (8%) of the UAE, Martank BV of Holland (10%) and SK Energy Asia Pte Ltd. of South Korea (15%).
The HSTL terminal, which will take 18 months to complete, will enable the handling of Class 1,2 and 3 petroleum products. "This terminal has been designed for the safe, efficient and competitive loading and unloading of bulk liquid cargoes from tanker vessels in accordance with international standards," said Hussain Sultan, Group Chief Executive and Board Member, ENOC. "HTL has been greatly assisted in this endeavour by the Jurong Town Corporation of Singapore, which provided the land, and by support from the Singapore Economic Development Board as well as other Governmental agencies such as Marine Port Authority (MPA)."
Jurong Consultants has been working closely on the terminal project with ENOC Engineering and Construction since November 2003. Activities carried out have included preliminary conceptual design and cost estimation, as well as detailed engineering for the tank farm and berths and tender package preparation for the berth, storage tanks, mechanical and piping, electrical and instrumentation and civil works.
"The terminal's first phase will have 30 tanks providing 840,000 cubic metres of storage for liquid petroleum products," explained Sultan. "The tanks will be built in accordance with API 650 and there will be an option for an additional three tanks, providing an extra 120,000 cubic metres of capacity. In addition, four berths will be constructed in the first phase which will enable the berthing of partially laden very large crude carriers (VLCC) as well as small barges for bunker or cross port trades."
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ABOUT HORIZON TERMINALS LIMITED:
HTL was established to capture growing regional and international demand for independent terminalling facilities and management. On its launch in 2003, the Company, which is fully owned by ENOC, had an authorised capital of US $50 million.
HTL's objective is to set up and develop a network of terminals by creating, acquiring or managing bulk liquid storage facilities in the oil, chemical, LPG and vegetable oil sectors and to be a global player by 2010.
The company is looking to be positively benchmarked against its industry peers Vopak and Oiltanking by 2007.
For further information:
Barbara Saunders
MCS/Action
PO Box 20970
Dubai
United Arab Emirates
Tel: +9714 390 2960
fax: +9714 390 8161
email: barbara.s@actionprgroup.com
www.enoc.com
Press Release 2005
