FPC buys a 12% stake in Gulf Petrochem's project at Fujairah

摘要

Gulf Petrochem Group, has signed an investment agreement with the Government of Fujairah's subsidiary Fujairah Petroleum Company (FPC). Under the agreement, FPC will buy a 12% stake in Gulf Petrochem's 412,000 cubic meter storage terminal project in Fujairah. The project is scheduled for completion in September 2012. According to the release the agreement was signed by Dr. Salem Abdou Khalil, Technical Advisor, Government of Fujairah, on behalf of the Fujairah Petroleum Company, and Harshavardhan Sinha, Executive Director, Gulf Petrochem Group, on behalf of Gulf Petrochem, Fujairah.