Monday 15 July 2019
 
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356,000 T STORAGE CAPACITY

Jordan completes UAE-funded oil storage facilities project

ABU DHABI, June 15, 2019

Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, has announced the successful completion of a Dh771 million ($210 million) petroleum storage facilities project in Jordan, which had been fully funded by ther Emirati entity.
 
With a holding capacity of 356,000 tonnes, the project includes the construction of 22 storage facilities for light petroleum products including liquefied petroleum gas (LPG) as well as petroleum derivatives – diesel, gasoline and jet fuel. 
 
Built in accordance with best international standards and equipped with health, safety and environment (HSE) equipment, the project is also fitted-out with loading and unloading areas for tanks as well as a water treatment system.
 
The funding was made as part of the UAE government’s contribution of Dh4.6 billion ($1.25 billion) in 2013 to the Gulf Development Fund – an Dh5 billion programme of the GCC member countries to finance development projects in Jordan, said the statement from ADFD.
 
The project was inaugurated by Jordanian Prime Minister Omar Razzaz at a major ceremony which was attended by a high-level delegation from ADFD led by Director General Mohammed Saif Al Suwaidi besides Jordanian Minister of Planning and International Cooperation Dr Mohamad Al Ississ, Jordanian Minister of Energy and Mineral Resources Hala Zawati as well as a number of senior officials from both sides.
 
Addressing the gathering, Al Suwaidi said: "The UAE and Jordan enjoy historic bilateral relations. The UAE leadership is committed to providing all forms of support to Jordan towards achieving comprehensive development in the country."
 
"The Petroleum Storage Facilities project in Jordan has important economic development benefits. Apart from upgrading the oil sector infrastructure, it is designed to help the Jordanian government address challenges in achieving energy self-sufficiency and securing strategic reserves of petroleum derivatives," he stated.
 
Al Suwaidi also acknowledged ADFD’s contribution to stimulating economic activity and achieving sustainable development in Jordan through financing priority development projects.
 
For her part, Zawati commended the UAE leadership for its ongoing support to the Jordanian people. 
 
She praised the brotherly relations between the UAE and Jordan, noting the strong fraternal ties among King Abdullah II of Jordan, UAE President HH Sheikh Khalifa bin Zayed Al Nahyan, and HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.   
 
Highlighting ADFD’s role in helping the Jordanian government achieve sustainable economic growth, the Jordanian Minister of Energy and Mineral Resources said that ADFD has been providing strategic funding to key energy projects which in turn help in stimulating the economy. 
Zawati also highlighted the importance of the Petroleum Storage Facilities project, noting its storage capacity in ensuring the supply and security of oil derivatives.
 
She said the new Petroleum Storage Facilities project provides storage units to maintain a reserve of petroleum products sufficient for 60 days of domestic consumption across Jordan. 
 
Apart from creating ongoing job opportunities, Zawati also said that the project will enhance Jordan’s oil security and infrastructure.
 
Since 1974, ADFD has effectively funded hundreds of development projects in Jordan valued at Dh5.6 billion across the mining, water and irrigation, transportation, housing, agriculture and energy, as well as education and healthcare industries.-TradeArabia News Service 



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