Sign up
Log in Sign up
Thu 16 Dec 2010 18:28

Fujairah to receive $1bn development funding


UAE government to invest $1 billion in development projects over the next three years.

The UAE government has announced that Fujairah is set to receive Dhs4 billion ($1.09 billion) from the federal budget to invest in 35 development projects over the next three years.

The announcement was made by UAE prime minister and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum during a visit to the emirate where he toured a section of the 400 kilometre Habshan-Fujairah crude oil pipeline project, which is almost complete and scheduled to begin transporting Murban blend crude oil on a trial basis later this month.

News of the $1 billion investment will be a boon for Fujairah, already the leading bunkering hub in the Middle East and second only to Singapore in terms of supply volumes. The port has become a major hub for fuel storage and expansion plans at Fujairah include increasing total storage capacity to around eight million cubic metres of fuel, and doubling the number of tanks.

The federal budget is due to be allocated between 2011 and 2013, state news agency Wakalat Anba'a al-Emarat (WAM) said.

Lease agreement between Inter Terminals Sweden and the Port of Gothenburg, signed on July 1st. Pictured: Göran Eriksson, CEO of the Port of Gothenburg (left) and Johan Zettergren, Managing Director of Inter Terminals Sweden (right). New Gothenburg lease an opportunity to expand green portfolio: Inter Terminals  

Bunker terminal operator eyes tank conversion and construction projects for renewable products.
Map of US Gulf. Peninsula extends US Gulf operation offshore  

Supplier to focus on Galveston Offshore Lightering Area (GOLA) in strategy to serve growing client base.
The M/T Jutlandia Swan, operated by Uni-Tankers. Uni-Tankers vessel gets wind-assisted propulsion  

Fourth tanker sails with VentoFoil units as manufacturer says suction wing technology is gaining traction.
Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.
Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

End of an era as shareholders make decision based on 'non-core nature' of Cockett's business.
Petrobras logo. Petrobras confirms prompt availability of VLS B24 at Rio Grande  

Lead time for barge deliveries currently five days.
Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.
Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.
Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.
Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.

↑  Back to Top


 Recommended