| May 28 2010 |
Horizons Terminals Ltd Selects Malta for their New Terminal
As part of its continuous efforts to expand and build on its network of terminals across the world, Horizon Terminals Limited (HTL), a wholly owned subsidiary of Emirates National Oil Company (ENOC), has identified Malta as the next destination for their new terminal.
Malta is the Mediterranean hub for shipping lines, located at the crossroads of some of the world’s busiest shipping routes that carry over 120 million tonnes of oil products.
The new terminal of HTL is located near the Marsaxlokk Port and will feature advanced equipment. It will have a capacity of 600,000 cubic meters for black and clean products, with one Jetty for VLCCs (very large crude carrier) and two for vessels up to 120,000 DWT.
Commenting on the expansion plans, Saeed Abdullah Khoory, ENOC’s Group Chief Executive, said: “This is significant move that will consolidate HTL’s position as a global leading terminal operator. ENOC’s 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 Europe’s oil sector.”
HTL is in the process of obtaining the necessary permits, including the EIA permits. According to the company’s plans, the work on site is planned to commence in the second half of 2011.
HTL, the independent terminal arm of ENOC, manages more than 5 million CBM 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.