VTTI Fujairah Terminal located outside the Straits of Hormuz, is a major Gulf terminal. The terminal already boasts almost 1.2 million cubic metres of storage and will now embark on a major new expansion project, after having signed a long-term, exclusive storage and rental agreement with a major energy company.
As part of the contract, VTTI FTL will construct a new, 430,000 cbm tank farm. VTTI FTL will also provide operational and logistical resources for the customer´s on-site processing.
Siavash Alishahpour, General Manager at VTTI FTL, commented on the contract: “This contract and associated expansion project is the positive outcome of very detailed and exciting negotiations between two best-in-class parties in the energy industry. We were able to successfully meet all requirements given to us by a demanding client, which is testament to our team’s ability to understand the needs of major global customers and to present them with practical and commercial solutions.”
It is expected that the project, VTTI’s largest for two years, will be ready to achieve commissioning in 2016, making it the fastest construction project to date.