Enoc opens Dh667m Tangier unit

Horizon Terminals Limited (HTL), a wholly-owned subsidiary of Emirates National Oil Company (Enoc), has inaugurated a new facility in Tangier, Morocco, with a total investment value of Dh 667 million (US$180 million; Euro 140 million).

Horizon Tangier Terminals Ltd is strategically located on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean Sea meets the Atlantic Ocean. It is located at the crossing of two major maritime routes, and well positioned to draw on business with Europe, with the facility only 15 km from the European Union.

Horizon Tangier Terminal can store petroleum products including fuel oil, gasoline, gasoil with a total capacity of 508,000 cubic metres, and has access to road tankers and vessels. The terminal is equipped with two berths of 30,000 DWT to 70,000 DWT in addition to eight truck loading bays for petroleum products, rail wagon loading, blend plant and recirculation systems.

HTL’s Saeed Abdullah Khoory said: “Horizon Tangier Terminal not only highlights the growing footprint of our storage business internationally. The terminal will contribute to economic growth of Morocco, drive foreign trade and open up new opportunities for business in the petroleum sector.”

Horizon Tangier’s new petroleum storage terminal is positioned to help address the shortage in storage facilities in North Morocco, which in turn can help reduce costs of supplying  gasoil and motor gasoline from central Morocco to the north.

The Tangier terminal will also provide bunker services as well as serve the transit market for international petroleum marketing companies. 
 

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