BPGIC signed a land lease agreement with Fujairah Oil Industrial Zone (FOIZ) for a strategically located and prime plot of land with a total area of approximately 450,000 m² on which BPGIC plans to develop its Phase III facility. BPGIC expects that Phase III alone could add storage and services capacity of up to three and half (3.5) times the size of BPGIC’s projected operations post-Phase II, which will be 1 million m³.