Horizon Terminals Limited (HTL), a wholly-owned subsidiary of Emirates National Oil Company (ENOC), will build a new 600,000m3 terminal in Malta.
The new terminal is located near the Marsaxlokk Port and will feature advanced equipment. It will store black and clean products, with one jetty for very large crude carriers (VLCCs) and two for vessels up to 120,000 DWT.
Malta is the Mediterranean hub for shipping lines, located at the crossroads of some of the worlds busiest shipping routes that carry over 120 million tonnes of oil products.
ENOCs investment in this facility through HTL, reiterates our confidence in Malta as a strong business model and as our gateway to the European market. We are confident that such investments will put us in good stead to take advantage of growth opportunities offered by Europes oil sector, Saeed Abdullah Khoory, ENOCs group CEO, comments.
HTL is in the process of obtaining the necessary permits, including the EIA permits. According to the companys plans, the work on site is planned to commence in the second half of 2011.
HTL manages more than 5 million m3 of storage with a network of seven terminals ranging in location from South Korea to Morocco. It provides world-class terminal services for bulk liquids storage as well as a range of value-added logistics services.