Fujairah Oil Industry Zone (FOIZ) will announce details soon, Captain Salem al-Hamoudi, FOIZ director, said in an interview.“This year, they (new projects) are likely to be more tankage (mixed products and crude) and refinery,” he said at the zone’s headquarters.
Fujairah, which is the biggest bunkering hub in the Middle East, is capitalising on its position outside the Strait of Hormuz to attract investments that have typically gone into bunkering operations.FOIZ is expanding available land by about seven percent and reclaiming about 66sq-km from the sea in the next 15 to 16 months, which will boost the total area to 10.6sq-km. Around 30% of the reclamation is complete, said al-Hamoudi.
“There is room for crude, which is partially there,” al-Hamoudi said. “Derivatives are there already and we are aiming nowadays for LPG, LNG and petrochemicals as well as adding more refining capacity. This is the basket we are aiming at for the new land.”Some of the big oil companies operating in Fujairah include ADNOC and Saudi Aramco, which opened a trading office in the emirate last year.
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