---

Gulf Petrochem Group has today announced details of the expansion of its Fujairah terminal ahead of its engineering procurement and construction (EPC) tender, which is expected to go out to market early next week, with the project set to start in April 2016.

The Gulf Petrochem Fujairah Terminal connects to the Port of Fujairah's common matrix manifold and is able to handle various types of vessels. The facility currently has a storage capacity of 412,000 cubic metres (cbm) with 17 tanks ranging from 13,000 cbm up to 40,000 cbm. It handles Class III petroleum products such as fuel oil and gas oil, with 348,000 cbm dedicated to fuel oil across ten tanks.

Following the expansion, earmarked for completion in March 2017, the group is set to increase its storage capabilities by 243,280 cbm, bringing the total capacity of its Fujairah terminal to 655,280 cbm across tanks with a capacity ranging from 9,000 cbm and 37,699 cbm. The additional capacity to be added will also enable Gulf Petrochem to store Class I products.

Upon completion, Gulf Petrochem says it will be able to provide its customers with inter-tank transfers, offer the provision for blending and mixing as well as connection to the port's terminal infrastructure for inter-terminal transfers. The terminal will house two new jetty lines, both of which will be connected to the matrix manifold of the Port of Fujairah and cater to black and white oil.

Prerit Goel, Group Director and Board Member at Gulf Petrochem Group said: "As a group we are extremely pleased to be in a position to be able to continue with our projects amidst a climate of low oil prices and uncertainty in the market. Upon completion of the expansion of our terminal in Fujairah, and complimented by our existing storage facilities in Hamriyah, Sharjah and Pipavav, India, the group will boast a total capacity of over 1,100,000 cbm."

Speaking in regards to current market conditions, Goel added: "In the current climate, we continue to be largely unaffected by the ongoing price volatility due to prudent risk management practices in place and our diverse presence across the oil supply chain. This expansion is testament to those practices and measures set in place, and further compliments our strategy to enhance our standing as a global conglomerate operating in the oil space."

Gulf Petrochem's latest announcement follows the recent inauguration of its $60 million terminal in Hamriyah, Sharjah, in November 2015. The new facility has a total capacity of 203,888 cbm across 37 tanks, ranging from 1,700 cbm up to 11,200 cbm.