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FINANCIAL NEWS
Oman’s Orpic to invest USD80m in Al Jifnain Fuel Storage Terminal
18 Mar 2015
(MENAFN) Oman Oil Refineries and Petroleum Industries Company SAOC (Orpic) is to invest USD80 million in the establishment of a major oil products distribution centre at Al Jifnain, Oman Daily Observer reported.
The new facility will cater to around half of the Sultanate’s gasoline and diesel demand, with the balance met by existing depots in Sohar, Mina Al Fahal and Raysut (Salalah), according to a senior official.
Al Jifnain Terminal forms the centerpiece of an important initiative to build the logistics infrastructure necessary to secure the supply of oil products for Oman, the General Manager and Logistics at Orpic said.
Implementation of the project is being supervised by Orpic Logistics Company, a partnership of Orpic and Spanish fuel transportation and storage giant CLH.
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