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FINANCIAL NEWS
All Vopak’s 48 Fujairah tanks leased out
07 Mar 2011
(MENAFN) An official at oil storage tank operator Vopak said that all of Vopak’s 48 tanks in Fujairah are currently rented and storing oil products, reported Gulf News.
The 48 Fujairah tanks have a capacity of 1.5 million cubic meters. The Dutch-based company is constructing another already-leased 600,000 cubic meters of storage, scheduled to be completed by the end of 2011.
Vopak, the world’s largest independent storage tank operator, leased the new under-construction tanks to BP, ConocoPhillips and Litasco.
It is worth noting that the total storage capacity of Fujairah port, which is located on the east coast of the UAE, is around three million cubic meters.
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