Related: Horizon Terminals to spend US$250 million in next two years
The CEO of Horizon Terminals has said that the company plans to expand its facility in Fujairah by 500,000 cubic metres.
Speaking exclusively to ArabianOilandGas.com, Yusr Sultan said that land is becoming available in the Emirate and the current market conditions meant it was a good time for expansion.
“The government is reclaiming the Fujairah coast and that will make more land available in the future,” Sultan said.
“We also have access to neighbouring land, for which we have done a project execution plan for an extra 500,000 cubic metres.”
Sultan also said that high inventories meant that Horizon Storage was seeing high demand for its storage facilities.
“We are seeing a very high capacity at the moment, especially for petrochemicals where there is a lot lower throughput. So the movement isn’t there but the demand for physical storage is,” Sultan said.
