Dubai-based Petrixo Oil & Gas has announced plans to set up a bio-fuel refinery in Fujairah with investment in excess of $800 million.
The company said in a statement that it has completed the preparation of studies, engineering designs and selected the required technologies for the facility.
It added that the refinery will have a design capacity of one million metric tons per year of bio-fuel products, which include bio-diesel, green-diesel, bio-jet, bio-naphtha and bio-LPG.
The project will be built over about 460,000 square metres of land close to Fujairah Free zone and the Port of Fujairah.
Petrixo added that it has incorporated a consortium of major international companies and financial institutions to set up the project.
The project is in line with the directives of Sheikh Hamad Bin Mohamed Al Sharqi, Ruler of Fujairah, in support of green energy projects, the statement said.
Last week, he officially inaugurated a new $100 million oil terminal in the emirate.
The terminal, which was built by Horizon Terminals Limited, a wholly-owned subsidiary of Emirates National Oil Company (ENOC), has a storage capacity of over 240,000 cubic metres and is directly linked to the oil tanker berths in the Port of Fujairah.
It is fully equipped to meet the growing demand for storing bulk liquid oil products such as fuel oil, naphtha, gasoline, gas oil, jet fuel and LPG, among others.
