Directions Fuel Trading (DFT) has opened its $18mn and fuel storage and processing tank farm facility at Al Jurf Industrial Area in Ajman.
DFT handles more than 500,000 gallons of fuel per day; the new storage and fuel processing facility has six tanks – large enough to store 2.5mn gallons (10,000 metric tonnes) of gasoil and furnace oil.
Inaugurated by H.H. Dr. Sheikha Moaza O.S. Al Maktoum – an entrepreneur and philanthropist and member of Dubai’s Royal Family — the new facility is part of Khushi Group’s expansion strategy in 2015.
“Our investment in fuel storage and processing plant amid falling global crude prices reflects our firm belief in the UAE economy and its resilience and our determination to invest in the UAE,” Sheikh Mohammed Sharif, chairman of Khushi Group, says.
“Despite 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.
“We are confident about the recovery of the oil price and the long-term sustainability of the UAE economy as well as the fuel trading sector.”
This is the first phase of a multi-phased expansion plan. The new storage facility and customer service centre will be able to manage the group’s fuel trading business and increasing fuel processing needs.
