Horizon Terminals Limited (HTL), a wholly owned subsidiary of Emirates National Oil Company (Enoc), has inaugurated a new facility in Tangier, Morocco, with a total investment value of Dh667 million ($180 million).

The facility named Horizon Tangier Terminals Ltd has a strategic location on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean Sea meets the Atlantic Ocean. It is located at the crossing of two major maritime routes and well-positioned to draw on business with Europe with the facility only 15 km from the European Union.

Several Moroccan ministers attended the opening ceremony along with Saeed Abdulla Khoory, chief executive of Enoc.

Horizon Tangier Terminal can store petroleum products including fuel oil, gasoline and gasoil with a total capacity of 508,000 cu m 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, a blend plant and recirculation systems.

Khoory said: “Horizon Tangier Terminal not only highlights the growing footprint of our storage business internationally, but is also a strong indicator of Enoc’s international expansion plans. The terminal will contribute to the overall social and economic growth of Morocco, drive foreign trade and open up new opportunities for business in the petroleum sector. Enoc is committed to introducing global best practices at the terminal.”

Horizon Tangier’s new petroleum storage terminal has several advantages. It is uniquely positioned to help address the shortage in storage facilities in North Morocco, which in turn can help reduce the historical costs associated with the supply of gasoil and motor gasoline that comes from central Morocco to the north, and eventually contribute to the growth of the Northern region.

In addition to supplying the Northern region’s requirements, the Tangier terminal will also provide bunker services as well as serve the transit market for international petroleum marketing companies. 

HTL, the independent terminal arm of Enoc, manages more than 5 million cu m of storage with a network of nine terminals ranging in location from South Korea to Morocco. It provides world-class terminal services for bulk liquids storage as well as a range of value-added logistics services.