KARACHI: Government is committed to bring prosperity to the less-developed areas of the country with the support from private sector and construction of the state-of-the-art oil storage terminal by Admore Gas in Daulatpur is a step in the right direction, said Shahid Khaqan Abbasi, federal minister for petroleum and natural resources, while inaugurating the Admore Oil Storage Terminal in Daulatpur, Sindh on Saturday.
The minister lauded the initiative, which not only highlights Admore’s compliance with the petroleum ministry’s directive of 20 days’ stock coverage, but will support business activity and economic progress in the underdeveloped area of Daulatpur.
Constructed with a massive investment of Rs370 million, the high-tech Daulatpur terminal marks the achievement of a highly crucial milestone in Admore’s business objectives.
Catering to the retail network requirements in upper Sindh and Balochistan, the terminal has a storage capacity of 2,000 metric tonnes with additional expansion capacity of 3,000 metric tonnes in the future.
Admore Gas (Private) Limited chairman Lt Gen Shahid Iqbal (Retd) welcomed the participants and said that in the near future, Admore will undertake 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.
Admore CEO Nadeem Jafarey said, “A massive turnaround for Admore Gas (Private) Limited was planned and successfully executed recently, for which our multi-tiered plans included upgradation and construction of modern storage terminals.”
“Admore 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 our 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 OMCs in Pakistan.”
In his concluding address, group chairman Amir Chishti thanked the chief guest and other dignitaries for their on the occasion.
He said, “The continued significant investment in its facilities, products, workforce and corporate social responsibility (CSR) initiatives highlights Admore’s firm commitment to a strong long-term presence and indicates an even brighter future in Pakistan.”
“Admore supports economic growth and progress in the country through high-level projects in the underdeveloped areas, provision of job opportunities and also contributing heavily to the national exchequer,” he added.
