FINANCIAL NEWS

Emarat completes USD81.68m oil storage expansion project

08 Jul 2011

(MENAFN) Emarat’s acting general manager, Adel Khalifa Al Shaer , said that the fuel retailer completed its USD81.68 million oil storage expansion project, reported Emirates 24/7.

Al Shaer added that the expansion,which included 10 new storage tanks for gasoline, gas oil and jet fuel with 210,000 cubic meters total capacity, would increase the capacity at the Gulf of Oman terminal to 260,000 cubic meters,

He also said that total storage capacity at the port reached 3 million cubic meters and by next year, it would be expected to go up to more than 7 million cubic meters.

It is worth noting that Emarat runs five terminals at UAE sites like Jebel Ali, Ras Al Khaimah and Sharjah with a total capacity of 383,000 cubic meters.

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