Al Brooge Securities CEO Husam Alameri told Khaleej Times that the company recently acquired 75% stake in the refinery, from investors from UAE and Saudi Arabi.
Financial terms of the deal have not been disclosed.
Al Brooge plans to increase its capacity by 150%, which increases its capacity from the current capacity of 40,000 bpd of Arabian Light Crude and Arabian Heavy Crude to 100,000 barrels per day.
The five major products by the refinery include 35% naphtha, 23% gas oil, 22 % kerosene, 18% bitumen and 2% LPG, reports khaleejtimes.com.
