The third expansion stage of Horizon Singapore Terminals’ (HST) bulk liquid storage terminal on Singapore’s Jurong Island is now complete.
The expansion means that the company, a subsidiary of Horizon Terminals Limited (HTL) and the leading terminal operator owned by Emirates National Oil Company (ENOC), now has one of the largest independent bulk liquid storage facitlities in the Far East.
An opening ceremony for the expansion was attended by the Singapore Senior Minister of State for Trade and Industry and Saeed Khoory, ENOC group chief executive.
“[The terminal expansion] reiterates our confidence in Singapore as a strong business model, which is today the third largest oil refining and trading hub in the world,” Khoory said.
“We are confident that such investments will put us in good stead in leveraging growth opportunities offered by Singapore’s oil sector,” he added.
Constructed of the facility cost US$306 million, the storage terminal comprises 59 bulk liquid storage tanks and four marine jetties. The storage terminal can handle the full range of refined petroleum products.
Yusr Sultan, chief executive of HTL said: “With the third expansion phase adding 270,000 cubic metres of clean petroleum products storage capacity, the total capacity at the storage terminal now stands at 1.24 million cubic metres.”
Singapore has the largest bunker port in the world and currently registers almost US$300 billion worth of annual oil trade and more than 30 million metric tonnes of annual bunker fuel oil sales.
