ADFD Participates in Petroleum Storage Project Inauguration
Abu Dhabi ,13 Jun 2019
A high-level delegation from Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, today participated in the inaugural ceremony of the AED771 million (US$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 (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. 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.
Inaugurated by His Excellency Omar Razzaz, Jordanian Prime Minister, the opening ceremony was attended by His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, His Excellency Dr Mohamad Al-Ississ, Jordanian Minister of Planning and International Cooperation, Her Excellency Hala Zawati, Jordanian Minister of Energy and Mineral Resources, as well as a number of senior officials from both sides.
His Excellency Mohammed Saif Al Suwaidi 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.”
He also acknowledged ADFD’s contribution to stimulating economic activity and achieving sustainable development in Jordan through financing priority development projects.
For her part, Her Excellency Hala Zawati commended the UAE leadership for its ongoing support to the Jordanian people. She praised the brotherly relations between the UAE and Jordan, noting the strong fraternal ties among His Majesty King Abdullah II of Jordan, UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Highlighting ADFD’s role in helping the Jordanian government achieve sustainable economic growth, the Jordanian Minister of Energy and Mineral Resources said that ADFD has been providing strategic funding to key energy projects which in turn help in stimulating the economy.
She highlighted the importance of the Petroleum Storage Facilities project, noting its storage capacity in ensuring the supply and security of oil derivatives. She added that the Petroleum Storage Facilities project provides storage units to maintain a reserve of petroleum products sufficient for 60 days of domestic consumption across Jordan. Apart from creating ongoing job opportunities, Her Excellency Zawati also said that the project will enhance Jordan’s oil security and infrastructure.
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.