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22 April 2024

DFT opens Dh70m fuel storage, processing plant in Ajman

By Staff

Directions Fuel Trading (DFT), a member of the Dh6 billion Khushi Group, has opened its Dh70-million fuel storage and processing tank farm facility at Al Jurf Industrial Area in Ajman.

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 Sheikh Mohammed Sharif, Chairman of Khushi Group.

“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. Our current investment is part of our overall growth and investment strategy for 2015 and the years ahead leading up to the Expo 2020 which will accelerate the demand,” said Sharif.

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. DFI’s other fuel farms will also continue to cater to the customer’s needs in the coming months.