Abu Dhabi fund finances $210m Jordan petroleum storage project

High-level delegation from Abu Dhabi Fund for Development attends inaugural ceremony of petroleum storage facilities project in Jordan
Abu Dhabi fund finances $210m Jordan petroleum storage project
Saif Al Suwaidi, director general of ADFD.
By Sam Bridge
Sat 22 Jun 2019 02:13 AM

A high-level delegation from Abu Dhabi Fund for Development (ADFD), the national entity for international development aid, has participated in the inaugural ceremony of a AED771 million ($210 million) petroleum storage facilities project in Jordan.

Fully financed by ADFD, the funding was made as part of the UAE government’s contribution of AED4.6 billion in 2013 to the Gulf Development Fund – an AED5 billion programme of the GCC member countries to finance development projects in Jordan.

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.

Inaugurated by Omar Razzaz, Jordanian Prime Minister, the opening ceremony was attended by Mohammed Saif Al Suwaidi, director general of ADFD, who 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.”

The project provides storage units to maintain a reserve of petroleum products sufficient for 60 days of domestic consumption across Jordan.

Since 1974, ADFD said it has funded hundreds of development projects in Jordan valued at AED5.6 billion across the mining, water and irrigation, transportation, housing, agriculture and energy, as well as education and healthcare industries.

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