A Switzerland-backed oil products terminal in Fujairah, United Arab Emirates, will come on line early next year.
Commodity trading house Aurora Progress will own and operate the 635,000 m3 oil terminal to store, blend and supply fuel oil, petrol, naphthas and middle distillates.
There is a lot of demand for storage in the region and with our new state of the art terminal and flexible berthing facilities in the port we can offer our customers a first rate service in this growth market, Aurora's trading director Ammar Kutait comments.
It will be one of the first companies to make use of a new multi-berth tanker facility due to be commissioned by the port of Fujairah this year. The United Arab Emirate bunkering hub has seen a surge in on-shore storage capacity as floating storage has been phased out.
The group's main trading arm, Aurora Petroleum Trading and Supply, is involved in the trading and supply of petroleum products. It is also involved in the supply of bunkers.