On the same day it was announced that a joint venture of Emarat, the UK's BPand Netherlands-based Trafigura are establishing an AED 95.5 million ($26 million) unleaded gasoline blending, storage and distribution facility at Dubai's Jebel Ali Free Zone. The local company will hold a 60 per cent stake in the project and the other two a 20 per cent stake each. Construction is to begin in July and commissioning will take place sometime in 2004. Leaded petrol is being phased out in the UAE: from 1 January 2003 hundreds of service station began selling unleaded fuel.
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.