Horizon Tangiers Terminals (HTTSA), a part of the Horizon Group, is starting construction of a strategic bulk oil storage facility at the new Tangiers Mediterranean port of Morocco. Today, HTL announced it has awarded the EPC construction contract to the construction division of Bateman Litwin, a leading provider of innovative turnkey solutions for the global oil and gas sector.
The 90-Million-Euro terminal, to be built in two phases, will ensure a steady supply of bunker products to vessels calling at the Tangier Med port and will provide an important route for diesel and petrol for the Moroccan market. Phase 1, costing approximately 70 Million Euros, will consist of 370,000 cubic metres of storage and is expected to be completed by mid-2009.
“To meet projected demand, we are also looking at an immediate expansion to reach 500,000 cubic metres of storage at an additional investment of about 20 Million Euros”, said Saeed Khoory, ENOC Group Chief Executive.
Horizon Tangiers Terminal, a consortium of Horizon Terminals Limited, an ENOC subsidiary, Kuwait-based Independent Petroleum Group (IPG) and Morocco’s Afriquia SMDC, were awarded the concession to build and operate the bulk fuels terminal by the Tangier Mediterranean Special Agency (TMSA) in 2006.
“With its strategic location at the entrance to the Mediterranean and excellent connections to Europe, Tangier Med port is set to emerge as a major bunkering hub and refuelling port in the global ship movement. HTTL will help position Tangier Med as the logistics hub for Europe and will provide cheaper fuel to North Morocco”, said Yusr Sultan, CEO of the Horizon Group, while announcing the awarding of the contract in Morocco.
He further added that the terminal will provide extensive employment and career opportunities to Moroccans.
“Relations between Morocco and the Gulf region have been growing significantly in recent years. Dubai-based Emaar has made significant investments in Morocco’s real estate sector, and Dubai World, another of Dubai’s monumental institutions, has been advising TMSA on its proposed free zones”, Sultan added, expressing HTTL’s appreciation of the ongoing investment and development drive in Morocco.
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 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.
ENOC’s mission is to be the reliable Energy Partner of Choice in each sector in which it operates.
