AGL 40.35 Increased By ▲ 0.15 (0.37%)
AIRLINK 129.60 Increased By ▲ 0.49 (0.38%)
BOP 6.38 Decreased By ▼ -0.22 (-3.33%)
CNERGY 4.01 Decreased By ▼ -0.02 (-0.5%)
DCL 8.44 Decreased By ▼ -0.01 (-0.12%)
DFML 42.59 Increased By ▲ 1.34 (3.25%)
DGKC 87.38 Increased By ▲ 0.38 (0.44%)
FCCL 33.65 Increased By ▲ 0.30 (0.9%)
FFBL 65.80 Decreased By ▼ -0.10 (-0.15%)
FFL 10.66 Increased By ▲ 0.12 (1.14%)
HUBC 113.30 Increased By ▲ 2.60 (2.35%)
HUMNL 16.06 Increased By ▲ 0.83 (5.45%)
KEL 4.82 Increased By ▲ 0.04 (0.84%)
KOSM 7.86 Increased By ▲ 0.03 (0.38%)
MLCF 42.03 Increased By ▲ 0.13 (0.31%)
NBP 60.64 Increased By ▲ 0.14 (0.23%)
OGDC 184.50 Increased By ▲ 1.70 (0.93%)
PAEL 25.50 Increased By ▲ 0.14 (0.55%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.80 Decreased By ▼ -1.01 (-0.68%)
PRL 24.60 Increased By ▲ 0.04 (0.16%)
PTC 16.40 Increased By ▲ 0.16 (0.99%)
SEARL 70.63 Increased By ▲ 0.13 (0.18%)
TELE 7.35 Increased By ▲ 0.05 (0.68%)
TOMCL 36.25 Decreased By ▼ -0.05 (-0.14%)
TPLP 8.07 Increased By ▲ 0.22 (2.8%)
TREET 15.35 Increased By ▲ 0.05 (0.33%)
TRG 51.30 Decreased By ▼ -0.40 (-0.77%)
UNITY 27.45 Increased By ▲ 0.10 (0.37%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,883 Increased By 40.7 (0.41%)
BR30 30,239 Increased By 202.3 (0.67%)
KSE100 92,891 Increased By 370.7 (0.4%)
KSE30 28,847 Increased By 60.5 (0.21%)

State-owned Dubai Multi Commodities Centre (DMCC) said on Saturday it plans to build a $200 million oil products storage facility that will mainly service the Gulf Arab emirate's planned new airport.
DMCC said in a statement it will develop the 570,000 cubic metre (3.59 million barrel) facility in Techno Park free zone together with United Arab Emirates-based Star Energy Resources Ltd and Tropicana Trading DMCC. The Dubai facility will store oil products such as gasoline, jet fuel and fuel oil, DMCC said.
In addition, two new oil tanker berths will be built at Jebel Ali port, with the capacity to accommodate tankers of up to 80,000 tonnes, it said. The final investment decision will be subject to results of a front-end engineering and design (FEED) study, which is expected to be completed within 6 months.
Dubai, part of Opec member UAE, is trying to position itself as a hub for oil and gas trading in the Gulf, the world's largest oil exporting region. Techno Park is a zone set up by Dubai government that caters mainly to desalination and water, technology, oil and gas and research and development businesses.

Copyright Reuters, 2008

Comments

Comments are closed.