Oiltanking has bought a stake in Galana Mozambique, giving the storage operator an indirect shareholding in two terminal projects in the ports of Matola and Beira.
The terminal in Matola is currently under construction and will be operational in the second quarter of 2016 with an initial capacity of 51,000 m3 with land available for further development.
The facility will have access to a jetty with a draft of 11 meters. Additionally, it will be equipped with rail and truck loading facilities to serve southern Mozambique as well as neighbouring countries such as Swaziland, Zimbabwe, Botswana and the northern provinces of South Africa.
In addition, another terminal is slated to be built in Beira however this is still at the development stage. It is envisioned that it will facilitate imports into the central part of Mozambique, Zimbabwe, Malawi, Zambia and the Democratic Republic of Congo.
The acquisition is expected to be complete by mid December 2015. Oiltanking will then advance the development and construction of the terminal and once complete, it will be operated by Oiltanking and branded as Oiltanking Mozambique.
Oiltanking says in a statement that the move will further strengthen its presence in Africa and enhance its ability to serve new market segments on the east coast of the continent.
Leveraging storage market opportunitiesIranian oil production trajectory faces key deadline in May Growing a storage concept The future of oil demand in a decarbonised society NOCs unite amid winds of change Middle Eastern oil & gas growth on the horizon Middle East 'big oil' to boost global petrochemicals footprint Two stage vapour control systems for ultra-low VOCs emission Leak measurement system allows better operator decision-making Water jet cutting technique saved refinery time & money