Directions Fuel Trading (DFT), a member of the MAD 6 billion Khushi group, has opened its MAD 70 million fuel storage and processing tank fleet in the Al Jurf industrial zone in Ajman.
DFI processes over 500,000 gallons of fuel per day. The new fuel storage and processing facility includes six tanks, large enough to store 2.5 million gallons (10,000 metric tons) of gas oil and heating oil.
“Our investment in the fuel storage and processing plant amid falling global crude prices reflects our firm belief in the economy of the United Arab Emirates,” said Sheikh Mohammed Sharif, Chairman of the Khushi Group.
“Despite the price volatility in the global crude oil price movement, the diesel and fuel oil market will continue to grow in the United Arab Emirates due to its lower dependence on hydrocarbons and continued activities in construction, transportation , logistics, infrastructure and industrial development – the main fuel and diesel consuming sectors.
“We are confident about the recovery in the price of oil and the long-term sustainability of the UAE economy as well as the fuel trading sector. Our current investment is part of our overall growth and investment strategy for 2015 and the years ahead until Expo 2020, which will accelerate demand, ”said Sharif.
This is the first phase of a multi-phase expansion plan. The new storage facility and customer service center will be able to handle the group’s fuel trading activities and growing fuel processing needs. DFI’s other fuel farms will also continue to meet customer needs in the months to come.
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