ID :
78014
Wed, 09/02/2009 - 15:19
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Shortlink :
https://www.oananews.org//node/78014
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Fujairah Port awards contract to expand oil product handling
Fujairah, Sept 2, 2009 (WAM) Fujairah Port Tuesday awarded a multi-million dollar construction contract to Topaz Engineering's subsidiary, Nico International, as major expansion takes place at the port according to a report in "Gulf News."
The company will develop facilities at the Oil Terminal 2 and construction will include design, supply, fabrication, installation, testing and pre-commissioning of four berths topside facilities.
The contract will add additional berthing capacity on the East Coast. A deepwater port, Fujairah can handle tankers up to 180,000 deadweight tonnes and partly loaded very large crude carriers with a draft of less than 18 metres.
The work started immediately upon the contract being awarded and is expected to take approximately 10 months, said Fazel A. Fazelbhoy, chief executive of Topaz Energy and Marine.
The Oil Terminal will be used for fuel oil, jet fuel and gasoline but not crude. The company has been involved in the port development of the emirate since 1981. "Our significant investments over the years have paid dividends and this contract signing is the latest in a string of contract awards," B.S. Motwani, deputy general manager of Topaz's onshore fabrication business, said in a statement.
Last year, Topaz recorded US$419 million (Dh1,539 billion) in revenues, and US$47 million in net profits. Its total assets stood at US$758 million.
The Port of Fujairah is the second largest bunkering location in the world and it aims to have 17 docks to store and transport crude oil in the coming year or so. Almost 10,800 vessels called at the Port of Fujairah Offshore Anchorage in 2008. That represents more than a doubling of the number of vessels in the last ten years. The port has also expanded its quayside facilities tenfold in the last 25 years.
Currently, more docks are being developed to increase the capacity and the total number of multi-purpose docks will increase to 12.
Development is on schedule and operating on a loan of Dh900 million from the National Bank of Fujairah and the Commercial Bank of Dubai. The port authority's plans include developing a new facility, the Industrial Port, close to Fujairah Port, to manage exports of Abu Dhabi's crude oil. The industrial port, expected to be ready by June 2010, has a construction cost of Dh100 million, according to earlier media reports. With the developments, the port is expected to handle 70 per cent of Abu Dhabi's total crude exports.
The port is located at the mouth of the Straits of Hormuz and has become a thriving bunker and container port. – Gulf News
The company will develop facilities at the Oil Terminal 2 and construction will include design, supply, fabrication, installation, testing and pre-commissioning of four berths topside facilities.
The contract will add additional berthing capacity on the East Coast. A deepwater port, Fujairah can handle tankers up to 180,000 deadweight tonnes and partly loaded very large crude carriers with a draft of less than 18 metres.
The work started immediately upon the contract being awarded and is expected to take approximately 10 months, said Fazel A. Fazelbhoy, chief executive of Topaz Energy and Marine.
The Oil Terminal will be used for fuel oil, jet fuel and gasoline but not crude. The company has been involved in the port development of the emirate since 1981. "Our significant investments over the years have paid dividends and this contract signing is the latest in a string of contract awards," B.S. Motwani, deputy general manager of Topaz's onshore fabrication business, said in a statement.
Last year, Topaz recorded US$419 million (Dh1,539 billion) in revenues, and US$47 million in net profits. Its total assets stood at US$758 million.
The Port of Fujairah is the second largest bunkering location in the world and it aims to have 17 docks to store and transport crude oil in the coming year or so. Almost 10,800 vessels called at the Port of Fujairah Offshore Anchorage in 2008. That represents more than a doubling of the number of vessels in the last ten years. The port has also expanded its quayside facilities tenfold in the last 25 years.
Currently, more docks are being developed to increase the capacity and the total number of multi-purpose docks will increase to 12.
Development is on schedule and operating on a loan of Dh900 million from the National Bank of Fujairah and the Commercial Bank of Dubai. The port authority's plans include developing a new facility, the Industrial Port, close to Fujairah Port, to manage exports of Abu Dhabi's crude oil. The industrial port, expected to be ready by June 2010, has a construction cost of Dh100 million, according to earlier media reports. With the developments, the port is expected to handle 70 per cent of Abu Dhabi's total crude exports.
The port is located at the mouth of the Straits of Hormuz and has become a thriving bunker and container port. – Gulf News
