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FINANCIAL NEWS
UAE port of Fujairah to increase fuel storage capacity
16 Mar 2012
(MENAFN) The General Manager of the UAE port of Fujairah, Mousa Murad, reported that the port is planning an increase in fuel storage capacity by about two third, reported Arabian Business.
The announcement comes in light of Iran’s threats to close the Strait of Hormuz.
Murad said that the port, the UAE’s largest outside the Arabian Gulf, will raise tank capacity to 10m cubic meters by 2014 from about 6m cubic metres now.
It is worth mentioning that Fujairah may may also add power facilities and a natural gas import plant to the port site.
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