| Kippreport.com

Fujairah and The Fighter

March 28, 2011 3:46 by Eva Fernandes

When we watched the Oscar nominated film The Fighter this year, we saw a great parallel between the characters of the films and the UAE. If you didn’t watch the movie, the film follows the story of boxer Micky Ward’s rise to fame as he is guided by Dicky Eklund, his older brother, a once famous boxer turned drug addict. (The brothers also had a hoard of sisters that remained two dimensional characters throughout the movie.)
OK, so we were planning on pull comparisons about how Dubai is to Abu Dhabi as Micky Ward is to Dicky Eklund but we realise this isn’t one of our better analogies.

But it does allow us segue to what this article is really about…

Fujairah, otherwise known as one of the sisters of Micky Ward (alright, we’re letting it go right now), doesn’t really receive too much attention in the business realm and less so on Kipp, but recent developments are making Kipp believe things are going to change. Take for instance the most recent news that major Chinese oil company, PetroChina, is currently in talks with Fujairah to build an oil storage facility at the Fujairah Port.

Should the deal go through, the storage port (which is likely to have a 1 million cubic meters of storage capacity) will be mostly handled by the Vopak Horizon Fujairah, a joint venture between the Dutch-based Royal Vopak and the Horizon Terminals, a JV between the government of Fujairah and Kuwait’s Independent Petroleum Group (IPG).

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Tags: Fujairah, Fujairah china oil, fujairah oil increased spending, Fujairah oil spending, hormuz strait fujairah