Oiltanking Malta has expanded its storage capacity with the addition of six oil tanks increasing storage capacity by 35% to 527,000 cm.
Construction work started approximately two years ago on the Lm12 million (28 million) expansion.
Oiltanking Malta is owned by Oiltanking GmbH (55%) and the Luxembourg investment company Oystercatcher (45%).
It is a warehouse for oil, offering pipeline and berthing facilities and servicing multinational companies that have a base in Europe. The oil arrives mostly from Middle Eastern and north African countries, as well as Russia. From the Malta hub, clients export mainly to Europe.
Expressing his belief in the bright future of the Malta facility, Oiltanking MD Gust Spaepen says it is the leading independent terminal in the Mediterranean, which operates to the highest of international standards.
Oiltanking first set up its oil storage operation in Malta in 1992, investing almost Lm37 million to date. It has been active since the 1960s and is the second largest independent oil, chemical and gas storage company in the world, with over 70 terminals in 19 countries.
