Today's Edition
ABU DHABI (WAM)
AD Ports Group on Thursday announced the signing of a 50- year agreement with Oylz Terminals, a UAE-based oil supply and distribution provider, to develop a world-class clean petroleum storage facility in Khalifa Port.
The agreement will see Olyz Terminals develop a state-of-the-art 600,000 cbm tank storage facility at Khalifa Port Logistics Hub in two phases, further enhancing the port's capabilities and reinforcing its position as a key energy storage and trading hub in the region.
The first phase of the facility is expected to commence operations in mid-2027.
Saif Al Mazrouei, Chief Executive Officer of Ports Cluster - AD Ports Group, said, "We are delighted to welcome Oylz Terminals to Khalifa Port. This agreement underlines the strategic importance of Khalifa Port as a vital trade hub, not only for the UAE but for the entire region. This liquid storage terminal will enhance our port's capabilities and attract more customers seeking world-class infrastructure and seamless access to global markets. We look forward to a long and prosperous partnership with Oylz Terminals."
Dr. Khalid Omar Mohamed Hamad Almidfa, Chairman of Oylz Terminals, said that this milestone project reflects the company's commitment to developing best-in-class infrastructure that not only fortifies Abu Dhabi's position as a global energy hub, but also paves the way for Oylz Terminals' continued expansion.
