The Emirates General Petroleum Coporation (Emarat) plans to increase the storage space at its terminal in Fujairah from 50,000 cubic meters to 280,000 cubic meters, reported the Oman Arab Bank’s Investment Management Group (IMG). The project will be carried out in two phases, each costing 40 million Emirati dirhams ($10.8 million). Construction will begin in the second quarter of 2003.
Established in 1981, Emarat assumed the role of marketer and distributor of petroleum products in the United Arab Emirates (UAE). It was the first petroleum-retailer in the Middle East to introduce unleaded petrol in 1992 under the brand name of ULTIMA. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
