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FINANCIAL NEWS
Al Ghurair will probably construct fuel storage facility in Vietnam
20 Jul 2011
(MENAFN) Al Ghurair Commodities CEO, Saeed Saif Al Ghurair, said that the investment company would probably construct a petrol and oil products storage facility in Vietnam, reported Emirates 24/7.
Al Ghurair added that the facility would be able to store between 1.5 million tons and 2 million tons of these products which would be used to provide neighboring countries with fuel supplies.
He also said that the Dubai, UAE based firm would open its subsidiary in Vietnam as businessmen in the UAE would expand their cooperation and investments in the country especially in the energy and agricultural sectors.
It is worth noting that after Thailand, Vietnam is the world’s second largest rice exporter, and the UAE may cooperate with the country to insure its food security.
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