Intrakat announced on Friday that it signed an agreement with “Ecomar Storage Solutions FZE”, located in Fujairah, United Arab Emirates, operating in the fields of processing and trading of oil and natural gas as well as sustainable safe refining, as part of the “Ecomar Phase 3 Terminal Project”.
The project, with a total budget of 382,729,700 US dollars, concerns the construction of a new Oil Storage Terminal in the UAE, with a capacity of 1,300,000 cubic meters.
The construction of the new Oil Storage Terminal, which will significantly upgrade the strategic role of the region, is expected to begin at the beginning of August 2023 and be concluded in a period of four years. The new terminal will include 34 new tanks which will be built according to the latest international standards and the most modern, new technology materials.
Intrakat will dynamically enter the field of oil & gas projects, gaining significant experience and know-how, expanding its international footprint and, at the same time, increasing its backlog by 382 million. The company’s backlog amounted to 1.32 billion at the end of 2022. Since the beginning of this year, the company has signed, or is about to sign, many contracts and is involved in a number of new, major construction and infrastructure projects.
By the end of the year, when the approval process for the acquisition of AKTOR is expected to be completed by the competent authorities, the group’s backlog will significantly exceed 4 billion euros.
