Media ININ Economy We Trust
Media IN ABU DHABI, 13th June, 2019 (WAM)
The leading national entity for international development aid, Abu Dhabi Fund for Development (ADFD), today led a high level delegation to participate in the inaugural ceremony of the AED771 million (US$210 million) Petroleum Storage Facilities project in Jordan.
Inaugurated by His Excellency Omar Razzaz, Jordanian Prime Minister, the opening ceremony was attended by Director General of ADFD, Jordanian Minister of Planning and International Cooperation, Jordanian Minister of Energy and Mineral Resources, as well as a number of senior officials from both sides.
One of the officials said in a statement: “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 also acknowledged ADFD’s contribution to stimulating economic activity and achieving sustainable development in Jordan through financing priority development projects.
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.
Fully financed by ADFD, the funding was made as part of the UAE government’s contribution of AED4.6 billion (US$1.25 billion) in 2013 to the Gulf Development Fund – an AED5 billion programme of the GCC member countries to finance development projects in Jordan.
Since 1974, ADFD has effectively 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.
