Saudi Arabia's government is planning to build a new bunkering facility at the port of Yanbu, according to Ship & Bunker.
The Saudi Ports Authority has signed a deal with Alba Nova International and Trafalgar Co to build an integrated bunker station at King Fahad Industrial Port, to the south of Yanbu, the organisation said in an emailed statement on Monday. The proposed development will cost two billion riyal ($533.3 million). The proposed development will cost two billion riyal ($533.3 million).
"The operator of the 393,000 sq. m. refuelling hub intends to build oil tanks to store, trade, and blend petroleum products over two stages, with each phase seeing new 1.2 million metric-ton-capacity facilities taking shape over 196,000 sq. m," the organisation said in the statement.
"The overall holding capacity for the pioneering project is expected to hit 2.5 million metric tons on completion. "A total of 144 storage units, ranging from diesel tanks, benzene tanks, and heavy fuel oil tanks among others, will be erected at each stage.
"Capable of holding 8,650 metric tons apiece, these state-of-the-art facilities are designed to serve the national petroleum industry and cater to local and global market requirements in an efficient and high-quality manner."