American Tank & Vessel, an engineering, fabrication and steel storage erection company, has announced it will export oil storage tanks and pipelines to the Republic of Ghana.
It is being backed by a $109 million (81 million) loan guarantee from the Export-Import Bank of the US. The deal is made with the Ghanaian company Bulk Oil Storage Transportation (BOST).
The project, announced on 4 June, continues the efforts of AT&V to develop the sub-Saharan markets with AT&V technology. Mr Cutts, VP of AT&V, says the entire Ghana project has been constructed around the supply of engineering, materials and fabrication, separate from AT&V's traditional domestic resources.
'A combined effort from government agencies is a major ingredient in the pursuit of foreign work,' he explains. The Ghanian Government is the sole shareholder of BOST. BOST is a department in the Energy Ministry responsible for distributing petroleum products to all the oil marketing companies for onward sale to the final consumer. It owns and manages the infrastructure for bulk storage of petroleum products.
AT&V's aim is to bring additional work to the US market and stabilise future demand by working with foreign companies. The project looks to form and maintain work for AT&V and suppliers in multiple markets over the next three to five years.
There have been major expansions of equipment and facilities at a number of AT&V fabrication facilities. James Davidson, VP of construction at AT&V, says: 'The new expansions by AT&V represent additional capacity far beyond the need of the Ghana project, netting a benefit to our current customers. It should help to stabilise workloads over the next few years.'
AT&V provides a full range of tank and vessel capability, capacity and expertise to execute turnkey contracts for all terminal, pipeline, mill and plant projects in the US and foreign countries.