Expanding the Existing VTTI Terminal in Fujairah, United Arab Emirates
11.22.2021 - NEWS

November 22, 2021 [euro-petrole] – VTTI announced its acquisition of IPTF (IL&FS Prime Terminals FZC). A state-of-the art energy storage terminal situated in the heart of Fujairah.

 

The acquisition means that VTTI will own 90% of the terminal, while the other 10% will remain with the Fujairah Government. This 333,484 m3 terminal allows VTTI to significantly expand its long-established position in the Port of Fujairah.

Fujairah is one of the four key oil hubs in the world. Its long-term strategic importance is underpinned by large-scale refining and advantaged crude economics. The acquisition of this high quality facility puts FTL in a unique position in handling all petroleum products with the most flexible configuration, while increasing operational synergies within its existing terminal in the Port of Fujairah.

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