KARACHI: Admore Gas, an oil marketing company, set up an oil storage terminal at the cost of Rs370 million at Daulatpur, Sindh on Saturday.
“Catering to the retail network requirements in upper Sindh and Balochistan, the terminal has a storage capacity of 2,000 metric tons with additional expansion capacity of 3,000 metric tons in the future,” a company handout said.
Admore Gas (Private) Limited (AGPL) Chairman Shahid Iqbal said the firm would be undertaking joint ventures to build multiple storage facilities across the country including Shikarpur, Mehmoodkot, Sahiwal and Tarru Jabba to better serve its customers and improve the overall supply chain in the near future.
Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi, who inaugurated the storage facility, said construction of the storage facility by the company was in compliance with the petroleum ministry’s directive of 20 days’ stock coverage.
It will also support business activity and economic progress in the underdeveloped area of Daulatpur, said Abbasi.
“The government is committed to bringing prosperity to less developed areas of the country with support from the private sector,” he said.
Admore CEO Nadeem Jafarey said the company undertook massive capital expenditure to comprehensively build its storage capacity in the North and South regions of the country to provide better services and accessibility to customers and stakeholders.
“As a result, we achieved record volumes last year, almost doubled our market share, and have emerged as one of the fastest growing oil marketing companies in Pakistan,” he said.
Published in The Express Tribune, April 2nd, 2017.
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