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Tue 28 Dec 2010, 17:27 GMT

Mitsubishi eyes Fujairah storage, bunkering


Trading giant in discussions to build an oil and petrochemical storage facility in Fujairah.

Japan's largest trading company Mitsubishi Corporation has expressed interest in establishing a petrochemical and oil storage facility in Fujairah, United Arab Emirates, according to industry sources.

Mitsubishi's head of Strategy and International Cooperation in the Middle East, Hiroshi Nishimoto, is reported to have discussed the issue of potentially setting up a plant for petrochemical and oil storage in a recent meeting with Khaled Mohammed Al Jasem, Director General of the Fujairah Chamber of Commerce and Industry (FCCI).

Representatives of Abu Dhabi National Oil Company (ADNOC) were also said to have been present at the meeting.

Al Jasem is also reported to have expressed an interest in Fujairah's suitability for bunkering as the principal hub for marine fuels in the Middle East.

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