Gulf Petrochem Group inks agreement with Government subsidiary Fujairah Petroleum Company

Gulf Petrochem Group, has signed an investment agreement with the Government of Fujairah’s subsidiary Fujairah Petroleum Company (FPC). Under the agreement, FPC will buy a 12% stake in Gulf Petrochem's 412,000 cubic meter storage terminal project in Fujairah. The project is scheduled for completion in September 2012. The agreement was signed by Dr. Salem Abdou Khalil, Technical Advisor, Government of Fujairah, on behalf of the Fujairah Petroleum Company, and Harshavardhan Sinha, Executive Director, Gulf Petrochem Group, on behalf of Gulf Petrochem, Fujairah. Ashok Goel, Chairman, Gulf Petrochem Group, said: “Participation of Fujairah Petroleum Company in our project underlines the importance of the storage terminal business as a tool for socioeconomic progress in the emirate and across the region. Such strategic partnerships complement our aggressive growth plans, and help us create new economic possibilities for the communities we serve. This agreement reaffirms the commitment and trust various stakeholders have in this project.”
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha