Global commodity trading company Montfort Group has bought a stake in Matola Terminal de Armazenamento de Petróleos, an oil products terminal in the Port of Matola in Mozambique.
The 59,600 m3 import terminal was formerly known as Oiltanking Matola, until it was purchased in June 2021 by a consortium of Energi Asia DMCC and Al Braik Investments. It handles mostly gasoline, gasoil and kerosene. According to a story from Business Times that Montfort posted on its LinkedIn page, Montfort will develop the terminal in partnership with Energi Asia. The terminal was commissioned in December 2017 and being so new, has superior infrastructural capabilities, safety procedures, equipment and systems, with minimal maintenance downtime required.
Acquiring the terminal stake (the size of which has not been revealed) forms part of Montfort’s African expansion plans, and will allow the company to trade its products in six countries neighbouring Mozambique. The company hopes that the combined experience in its partnership with Energi Asia will contribute to Mozambique’s commercial activities and benefit the local and regional energy sectors.