Horizon Terminals Limited (HTL), a wholly owned subsidiary of Emirates National Oil Company (ENOC), has identified Malta as the next destination for its new terminal.

HTL’s new terminal near the Marsaxlokk Port and will feature advanced equipment. It will have a capacity of 600,000 cubic meters for black and clean products, with one Jetty for very large crude carriers and two for vessels up to 120,000 DWT.

During the construction phase, the project wil employ 600 people. Another 60 to 70 would be employed to run the terminal. The project would earn the government between 50 and 60 million euros a year and some 500 jobs would be created in related services.

Commenting on the expansion plans, Saeed Abdullah Khoory, ENOC’s Group chief executive, said:

“This is significant move that will consolidate HTL’s position as a leading global terminal operator.

“ENOC’s investment in this facility, through HTL, reiterates our confidence in Malta as a strong business model and as our gateway to the European market.

“We are confident that such investments will put us in good stead to take advantage of growth opportunities offered by Europe’s oil sector.”

HTL is in the process of obtaining the necessary permits, including the EIA permits.

According to the company’s plans, the work on site is planned to commence in the second half of 2011.

The independent terminal arm of ENOC, HTL manages more than 5 million CBM of storage with a network of seven terminals from South Korea to Morocco.

It provides world-class terminal services for bulk liquids storage as well as a range of value-added logistics services.