DUBAI, 6 November 2006 — Horizon Terminal Limited (HTL), an ENOC subsidiary, has recently launched Horizon Taeyoung Korea Terminals, which is the result of a strategic partnership between Horizon and Taeyoung Group, the leading conglomerate in South Korea. This move marks Horizon’s first crucial step in expanding its network terminals in the Port of Ulsan and is in keeping with its overall aim of penetrating the North East Asian market. Commenting on the initiative, Hussain Sultan, ENOC Group chief executive and board member, said: “This is a significant milestone for us as it opens up tremendous opportunities for growth both in South Korea and the region. We are proud to be associated with the Taeyoung Group and I am sure that this alliance will prove beneficial in establishing a base in the Port of Ulsan. This partnership also mirrors the good relationship that the UAE and South Korea enjoy.”
