Emarat sets up petroleum blending terminal with BP and Trafigura
The Emirates General Petroleum Corporation (Emarat) has entered a joint venture with the UK's BP and Australia's Trafigura to set-up a terminal to blend, store and distribute high quality unleaded gasoline.
The terminal will be located in Jebel Ali Free Zone covering a land area of over 100,000 square meters, of which 70 percent is earmarked for this project and the rest for future expansion. The total cost of the project is estimated to be over $26.0 million, out of which Emarat will be investing 60 percent and the rest will be equally shared between BP and Trafigura.
The unit will encompass under one roof, facilities for blending, storage and distribution of gasoline. It will be connected by pipeline to petroleum product producers and storage terminals located in the surrounding areas and will serve as a key distribution center.
Established in 1981, Emarat assumed the role of marketer and distributor of petroleum products in the United Arab Emirates (UAE). It was the first petroleum-retailer in the Middle East to introduce unleaded petrol in 1992 under the brand name of ULTIMA. — (menareport.com)
© 2003 Mena Report (www.menareport.com)