Enoc arm opens Tangier terminal

Abu Dhabi: The Emirates National Oil Company (Enoc) said yesterday its wholly-owned subsidiary Horizon Terminals Limited has inaugurated a new facility in Morocco which involves an investment of Dh667 million.

In a statement, Enoc said the new facility located in Tangier has a capacity of 508,000 cubic metres of petroleum products and is part of Horizon's efforts to expand its network of terminals across the world.

"The new 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," an Enoc statement said.