$209m project ... financed by the UAE.
Jordan launches work on petroleum product reservoirs
ABU DHABI, August 20, 2015
Jordan has commenced construction work on petroleum product reservoirs in the southern Amman area, according to a report.
The project is aimed at providing additional storage capacity for petroleum products - diesel, gasoline and kerosene - with a total storage capacity of 340,000 tonnes, in addition to 10,000 tonnes storage capacity for liquefied petroleum gas (LPG), according to the Emirates News Agency (WAM) report.
The Dh771-million ($209.8 million) project was financed as part of the UAE's allocation within the grants provided by the GCC, it said.
The UAE Government has mandated Abu Dhabi Fund for Development (ADFD) to manage the grant that will be used for vital projects contributing to economic and social development efforts in Jordan.
The project, which will be completed in the fourth quarter of next year, will guarantee Jordan a strategic supply of petroleum products and remarkably increase its storage capacity.
It will help Jordan maintain a continuous supply of petroleum products to prevent any crisis situations and emergencies. Construction of reservoirs will also mitigate the effects of fluctuations in petroleum product prices, the report added.
