Abu Dhabi: AD Ports Group today 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.
According to Emirates News Agency, the agreement will see Oylz Terminals develop a 600,000 cbm tank storage facility at Khalifa Port Logistics Hub in two phases. This development aims to enhance the port's capabilities and reinforce 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, emphasized the strategic importance of Khalifa Port as a vital trade hub for the UAE and the entire region. He stated that the new liquid storage terminal would enhance the port's capabilities and attract more customers seeking world-class infrastructure and access to global markets.
Dr. Khalid Omar Mohamed Hamad Almidfa, Chairman of Oylz Terminals, noted that this milestone project reflects the company's commitment to developing infrastructure that fortifies Abu Dhabi's position as a global energy hub and supports Oylz Terminals' expansion plans.