New Jebel Ali bunker to boost oil trade
Posted: 10 March 2008
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A world class oil products storage facility will be built at Techno Park in Dubai to provide an initial capacity of 570,000 cubic metre, according to framework agreement signed by Dubai Multi Commodities Centre (DMCC), Star Energy Resources and Tropicana Trading DMCC.
The facility which will involve an estimated investment cost of around $200 will store a wide range of oil products, including gasoline, gasoil/diesel, jet fuel and fuel oil, as well as offering complementary services such as blending, the group said in a statement.
Located within easy distance of the upcoming Dubai World Central - Al Maktoum International Airport, the storage infrastructure facility is expected to service the new airport via a pipeline directly linking the two facilities, the group said.
Two new oil tanker berths will also be built at the western breakwater of Jebel Ali port for easy supplier access, with the capacity to accommodate tankers of up to 80,000 tonnes.
The Final Investment Decision for go ahead of the project will be subject to positive results from a Front End Engineering and Design Study, which will be completed within six months time, the group said.
'Ensuring adequate oil storage facilities is crucial for enhancing Dubai's role as the Middle East's leading oil products trading hub and for accommodating the rapid growth of Dubai's own oil products demand, particularly its need to support a burgeoning civil aviation sector,' said DMCC Executive Chairman Ahmed Bin Sulayem. |
