Project Profile
Value: US$1.6 billion
Location: Port of Tangiers
Capacity: 3.35 million barrel capacity
Products: Fuel oil, gasoline, gasoil
The Port of Tangiers is a new US$1.6 Billion development aimed at becoming a competitive international port, situated to serve Europe, the Americas, North as well as West Africa. Tangiers lies on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean meets the Atlantic Ocean off Cap Spartel. The location of the new port is expected to enable it to serve more than 300 million consumers through industrial and commercial free zones. Currently, the port is comprised of three dry cargo container terminals, and one Ro-Ro and ferry terminal. The port has received positive international market feedback.
The Tangiers petroleum storage terminal has several advantages, one of which to help solve the shortage in storage facilities in North Morocco, which in turn should help reduce the historical costs associated with the supply of Gasoil and Motor Gasoline from central Morocco to the North. This will no doubt contribute to the growth of the Northern region. In addition to supplying the Northern requirements, the Tangiers terminal will provide bunker services as well as serve the transit market for international petroleum marketing companies. The importance of the Strait of Gibraltar region to East-West traffic is partly evidenced by the size of the bunker market, estimated for 2005 to be six million tons.
Also, the project is located at the crossing of two major maritime routes, as well as positioned 15 KM from the European Union. This offers a unique opportunity to further expand petroleum trading activities.
Horizon Tangier Terminal can store petroleum products including Fuel Oil, Gasoline, Gasoil with a total capacity of 508,000 cubic metres, and has access to road tankers and vessels. The terminal is equipped with two berths of 30,000 DWT to 70,000 DWT in addition to eight truck loading bays for petroleum products, rail wagon loading, blend plant and recirculation systems.
Operators:
Horizon (wholly owned subsidiary of Emirates National Oil Company ENOC): Operator with 100% interest