VTTI announced its acquisition of IPTF (IL&FS Prime Terminals FZC). A state-of-the art energy storage terminal situated in the heart of Fujairah. The acquisition means that VTTI will own 90% of the terminal, while the other 10% will remain with the Fujairah Government. This 333,484 m3 terminal allows VTTI to significantly expand its long-established position in the Port of Fujairah.

Fujairah is one of the four key oil hubs in the world. Its long-term strategic importance is underpinned by large-scale refining and advantaged crude economics. The acquisition of this high quality facility puts FTL in a unique position in handling all petroleum products with the most flexible configuration, while increasing operational synergies within its existing terminal in the Port of Fujairah.

About VTTI

VTTI is one of the world’s leading storage providers for energy and other essential products like chemicals. Located at major shipping crossroads and supply gateways, VTTI provides over 10 million cubic metres of storage capacity across five continents.