Riyadh, Saudi Arabia — Saudi Arabia’s General Authority of Ports, known as Mawani, has joined forces with Albanova International Company, in collaboration with Taraf Al-Aghar Company, to establish an SAR 2 billion ($533 million) integrated center for the storage of petroleum products.
This initiative is part of a project aimed at developing a leading center for bunkering ships at King Fahd Industrial Port in Yanbu, and supports the objectives outlined in the National Strategy for Transport and Logistics.
The 393,000-square-meter center aims to accommodate storage tanks for trading, blending, and storing petroleum materials, meeting the logistical demands of the petroleum industry. Strategically located at King Fahd Industrial Port in Yanbu, the largest port on the Red Sea coast for loading crude oil, refined products, and petrochemicals, the center is well-positioned near trade routes connecting America, Europe, and the Far East, SPA reported.
The construction, storage, and blending company behind the project plans to execute it in two phases. Each phase entails the construction of reservoirs covering an area exceeding 196,000 square meters. The capacity of each tank is projected to be 1.2 million cubic tons, resulting in a total capacity of 2.5 million cubic meters for the entire project. A total of 144 tanks, varying in type from diesel and gasoline tanks to heavy fuel oil tanks and tanks for other petroleum materials, will be built across both phases. The tank capacity is designed to be flexible, catering to the needs of the local and global market, while adhering to the highest standards of quality, efficiency, and international regulations.
King Fahd Industrial Port in Yanbu serves as the primary gateway for the Kingdom’s petroleum exports to countries worldwide. It is the largest port for loading crude oil, refined products, and petrochemicals on the Red Sea, encompassing an area of 6.8 square kilometers. With 34 berths and 10 stations, the port boasts a capacity exceeding 210 million tons and can accommodate ships up to 500,000 tons.
The kingdom’s Ministry of Energy’s aims to enhance the country’s fuel supply share for ships transiting and arriving at ports along the Red Sea coast to 10 million tons, while Mawani targets expanding the number of logistics zones to 30 by 2030.