Additional land has been made available for a storage facility in Walvis Bay as work continues on another strategic storage facility.
Speaking at the S&P Global Platts European Oil Storage Conference in Amsterdam, Elias Mwenyo, acting senior manager commercial at Namibian Ports Authority, said that the new liquid bulk terminal for oil should be commissioned by mid-2018.
The facility will increase the country's security of fuel supply from 10 days to 40 and that it will cater for the entire southern African market.
Once complete, the facility will have total capacity of 75 million litres, which will be able to storage various grades of diesel as well as unleaded petrol, heavy fuel oil and aviation fuel.
He said that in addition, there is 82 hectares of available land for more storage and that they are 'open to investment opportunities'.
'There is the potential for an additional oil storage facility in Namibia,' he added.
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