GPS Innova, a joint venture comprised of Global Petro Storage (GPS), Innova Refining Industries and Chemie Tech has taken a final investment decision to invest in a greenfield terminal project in the Port of Hamriyah in the UAE.
The terminal will provide services for industrial reprocessing of waste oils, trading, import and bunkering. Construction activities will start in October 2018 and the terminal is scheduled for completion by late-2019.
This is GPS’s first investment in the Middle East which is a key strategic hub which the company plans to expand around. GPS will hold the majority in the three-party joint venture company which will develop, own and operate a state-of-the-art hydrocarbon storage terminal according to international standards.
For more information visit: www.gpsgroup.com
22nd October 2018
