Prostar Capital Sells Bulk Liquid Storage Terminal GTI Fujairah to Mercantile & Maritime
DUBAI, UAE, Sept. 26, 2023 /PRNewswire/ -- Prostar Capital today announced the successful sale of its bulk liquid storage terminal facility, GTI Fujairah (GTIF) to Mercantile & Maritime Group (M&M).
- DUBAI, UAE, Sept. 26, 2023 /PRNewswire/ -- Prostar Capital today announced the successful sale of its bulk liquid storage terminal facility, GTI Fujairah (GTIF) to Mercantile & Maritime Group (M&M).
- GTIF is a modern and highly flexible bulk liquid storage terminal, with a total capacity of 350,000m3.
- GTIF was one of the bulk liquid storage terminal assets owned by Prostar, in a portfolio built over the last decade that in aggregate comprises more than 24 million barrels (3.7 million m3) in storage capacity globally.
- Prostar will remain committed to the Port of Fujairah, as Dave Noakes, Senior Managing Director at Prostar, notes:
"Prostar will remain invested in the Port of Fujairah through its continued 40% ownership of GTIF's neighbouring 1.2 million m3 bulk liquid storage facility, Fujairah Oil Terminal, which was the first terminal in the Port to store ultra-low sulfur fuel oil.