Gulf Petrochem Group, a company operating in the downstream and midstream sectors of the oil and energy industry, said it has opened its brand new state-of-the-art terminal in Sharjah.

Located within Hamriyah Free Zone (HFZA), the $60 million storage terminal, with a capacity of over 200,000 cu m, will provide storage capacity to meet the growing demand within the region.

“We are delighted to celebrate the opening of this new terminal  as it will enable Gulf Petrochem, which is a leading player in the oil industry, to offer its products locally and internationally,” remarked Saud Salim Al Mazrouei, the director of HFZA and Sharjah Airport International Free Zone (Saif zone) who officially inaugurated the facility.

"We see the opening of the new terminal as another example of our strategic goal of empowering businesses paying off. We remain committed to giving our valued customers the best possible infrastructure to help support their growth aspirations," stated Al Mazrouei.

Gulf Petrochem said the new terminal will have a total capacity of 203,888 cbm with 37 tanks ranging from 1,700 up to 11,200 cbm.

Complying with international safety and operational standards, the new terminal will be able to house all classes of petroleum products such as gfuel oil, gas oil, base oil, bitumen and naptha.

GP Hamriyah Terminal has a flexibility allowing it to easily  connect to other key terminals in the vicinity. It is also connected to both inner and outer harbours of Hamriyah Port, it adde.

BM Bansal, a board member at Gulf Petrochem Group said: "Our storage terminal business has become an integral and significant business unit for the group. Complimented by our existing storage facilities in Fujairah, UAE and Pipavav, India, our new terminal in Hamriyah will continue to enable us to service our customers within strategically located storage and trading hubs globally.”

The opening ceremony was attended by Mohammed Mir Abdulrahman, the director of Sharjah Department of Seaports and Customs; Ahmed bin Hadda Al Suwaidi, the director of Administrative Affairs; Sudhir Goyel, the managing director of Gulf Petrochem and others.

Started in 1998 with the commissioning of a refinery in Hamriyah, the Gulf Petrochem is now a conglomerate worth over $2.5 billion with business operations in oil trading and bunkering, refining, storage terminals, bitumen manufacturing, lubricants, shipping and logistics.-TradeArabia News Service