VOL. XLVI

No 15

14-April-2003

UAE

ENOC Establishes Terminalling Company

Emirates National Oil Company (ENOC) on 7 April announced the establishment of a new terminalling company, Horizons Terminals Ltd (HTL) to capture growing regional and international demand for independent terminalling facilities and management. Initially, HTL has an authorized capital of $50mn, wholly owned by ENOC. But the intention later is to open it up to large investors, and float it on the Dubai Financial Market within...