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FINANCIAL NEWS
DFT launches USD1.63b fuel storage, processing plant in Ajman
12 Jan 2015
(MENAFN) Directions Fuel Trading (DFT), a member of the USD1.63 billion Khushi Group, has launched its Dh19.05-million fuel storage and processing tank farm facility at Al Jurf Industrial Area in Ajman, Emirates24/7 reported.
DFI handles more than 500,000 gallons of fuel per day. The new storage and fuel processing facility has six tanks ” large enough to store 2.5 million gallons (10,000 metric tonnes) of gasoil and furnace oil.
“Our investment in fuel storage and processing plant amid falling global crude prices reflects our firm belief in the UAE economy,” said Chairman of Khushi Group.
he added that regardless of price volatility in the global crude oil price movement, the gasoil and fuel oil market will continue to grow in the UAE due to its less reliance on hydrocarbon and the continued activities in the construction, transport, logistics, infrastructure, and industrial development ” the main sectors that consume fuel oil and gasoil.
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