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ENOC inaugurates US$180 million Horizon Terminals facility in Tangier
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Mon February 20, 2012 10:45 am

UAE. Building on its continuous efforts to expand its network of terminals across the world, Horizon Terminals Limited (HTL), a wholly owned subsidiary of Emirates National Oil Company (ENOC), has inaugurated a new facility in Tangier, Morocco, with a total investment value of AED 667 million (US$180 million).

The new ‘Horizon Tangier Terminals Ltd’ has a strategic location on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean Sea meets the Atlantic Ocean. It is located at the crossing of two major maritime routes, and well positioned to draw on business with Europe, with the facility only 15 km from the European Union.

His Excellency Fouad Douiri, Minister of Energy, Mines, Water & Environment; His Excellency Aziz Rebbah, Minister of Infrastructure & Transport; His Excellency Mohamed Najib Boulif, Deputy Minister to the Prime Minister in charge of General Businesses & Governance; His Excellency Abedlkader Aâmara, Minister of Industry Trade & New Technologies; His Excellency Mohamed Hassad, Governor (Wali) of Tangier Province and Saeed Abdulla Khoory, Chief Executive Officer of ENOC attended the ceremony held in Tangier recently to mark the official opening of the facility.

Horizon Tangier Terminal can store petroleum products including Fuel Oil, Gasoline, Gasoil with a total capacity of 508,000 cubic metres, and has access to road tankers and vessels. The terminal is equipped with two berths of 30,000 DWT to 70,000 DWT in addition to eight truck loading bays for petroleum products, rail wagon loading, blend plant and recirculation systems.

Saeed Abdullah Khoory said: “We are thankful to the Government of Morocco for the continued support and encouragement for the opening of the new facility. Horizon Tangier Terminal not only highlights the growing footprint of our storage business internationally, but is a strong indicator of the ENOC’s international expansion plans. The terminal will contribute to the overall social and economic growth of Morocco, drive foreign trade and open up new opportunities for business in the petroleum sector. ENOC is committed to introducing global best practices at the terminal.”

Horizon Tangier’s new petroleum storage terminal has several advantages. It is uniquely positioned to help address the shortage in storage facilities in North Morocco, which in turn can help reduce the historical costs associated with the supply of gasoil and motor gasoline that comes from central Morocco to the north, and eventually contribute to the growth of the Northern region.

In addition to supplying the Northern region’s requirements, the Tangier terminal will also provide bunker services as well as serve the transit market for international petroleum marketing companies. 

HTL, the independent terminal arm of ENOC, manages more than 5 million CBM of storage with a network of nine terminals ranging in location from South Korea to Morocco. It provides world-class terminal services for bulk liquids storage as well as a range of value-added logistics services.

About ENOC:
Established in 1993 as a wholly-owned company of the Government of Dubai, ENOC aims to promote the interests of its shareholders through the development of further downstream and upstream activities in the oil and gas sector and beyond, and to encourage the economic diversification of Dubai and the rest of the UAE.

ENOC’s vision is to be a leading regional integrated oil & gas group that is highly profitable and socially responsible towards employees, the community and environment. Driving this vision, ENOC is committed to achieving sustainable development and highly profitable growth and serving the growing energy needs of Dubai.

ENOC strives to attract, develop and retain top talent to become the employer of choice, while adopting latest technologies and implementing best practices to achieve world-class performance. ENOC is also focused on meeting and exceeding customer expectations in terms of quality and service, and in maintaining high industry standards with respect to environment, health and safety.

ENOC actively participates in an increasingly broad range of business ventures. Its joint ventures with major international companies allow partners to pool their technology, know-how and expertise along with their resources to further their commercial success.

Since its inception, ENOC has been guided by its philosophy of quality and professional management based on modern business concepts for commercial success and sustainable growth. Today it is poised to engineer a new and challenging period of growth and diversity.

About Horizon Terminals Limited:
Horizon Terminals Limited is an independent bulk liquid storage terminalling company established in 2003 by the Emirates National Oil Company. Horizon Terminals’ objective is to expand its network of terminals to capture a growing global demand for independent terminalling facilities and management.

Horizon Terminals currently owns and operates bulk liquid storage terminals in the United Arab Emirates, Saudi Arabia, Djibouti, Morocco, Singapore and South Korea.

For more information, visit www.horizon-terminals.com

 

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