The company has signed a long-term deal with a customer, for this extra capacity.
Vopak noted that the expansion will feature five storage tanks for crude oil, one manifold and pipeline connection to the new VLCC jetty in the Port of Fujairah, which will increase the total storage capacity at Vopak Horizon Fujairah to around 2.6 million cbm.
The expansion and jetty connections are expected to be commissioned in the second half of 2016.
Royal Vopak executive board chairman and CEO Eelco Hoekstra said the Port of Fujairah is very well positioned to become a crude oil hub in the Middle East.
"We are excited to build together with our partners the 7th expansion of Vopak Horizon Fujairah and add crude oil tanks to safely serve our customers," Hoekstra added.
Vopak Horizon Fujairah is a joint venture of Royal Vopak (33.3%), Horizon Terminals (33.3%), a wholly-owned subsidiary of Emirates National Oil (ENOC), the Government of Fujairah (22.2%) and Kuwait’s Independent Petroleum Group (11.1%).
