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05-03-14

Dubai's Petrixo to invest USD800 m in fuel refinery

(MENAFN) Dubai-based Petrixo Oil & Gas plans to invest as much as USD800 million in bio-fuel refinery in Fujairah, according to Arab News. Petrixo has completed the preparing the studies and engineering designs. The project will extend over more than 460.000 square meter area near Fujairah Free Zone & Port of Fujairah. Company sources stated that the main idea of the project is to produce bio-diesel for global and the Gulf market.