Vopak
Horizon Fujairah and Egypt’s Sonker plan Sokhna bulk liquids
terminal
Posted: 8 March 2004
New joint venture to drive project
Vopak-Horizon Fujairah Limited, (VHFL), a flagship joint venture
between Holland’s VOPAK and Horizon Terminals Limited (HTL),
a wholly-owned subsidiary of Emirates National Oil Company (ENOC)
LLC, has struck a joint venture with Egypt’s Sokhna Bunkering
Company, (SONKER), with the aim of building a bulk liquids terminal
at Sokhna Port, 40 kilometres south of Suez.
The new joint venture — Vopak-Horizon-Sokhna Limited (VHSL)
— will be 60 per cent owned by SONKER with the remaining equity
held by VHFL.
SONKER’s Managing Director, Ossama Al-Sharif and VHFL Chairman,
Hussain Sultan signed the agreement at a ceremony attended by Egyptian
Petroleum Minister, His Excellency Sameh Fahmy.
The planned terminal, expected to be operational by 2006, will
be within Sokhna Port’s free zone some 130 kilometres east
of Cairo. It will be managed by VHFL.
“The terminal will cater primarily to Egypt’s growing
bunker fuel market as well as support imports of edible oils and
petrochemicals, and exports of petrochemical projects currently
in development” said Hussain Sultan.
Egypt’s current bunker fuel market is worth approximately
two million metric tones a year compared to other major world ports,
which handle in excess of 10 million metric tones per annum.
For more information see www.enoc.com.
Posted by Richard Price,
Editor Pipeline Magazine
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