Horizon Terminals, 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 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.
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, Chief Executive Officer of ENOC, 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.”
ENOC says that 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 terminal services for bulk liquids storage as well as a range of value-added logistics services.
