Joint venture Oiltanking Grindrod Calulo Holdings has inked an agreement with South Africa’s Transnet National Ports Authority (TNPA) for a new liquid bulk handling facility at the Port of Ngqura.
The build, operate and transfer agreement was signed on Thursday for the terminal which will have 150,000 cu m of storage capacity in its first phase. Construction of the facility is due to commence in the 4th quarter of this year with commissioning in the third quarter of 2019.
The first phase will store refined petroleum products and replace tanks currently in use in the Port of Port Elizabeth, which will be decommissioned and the land redeveloped. Future phases will provide capacity for up to an additional 550,000 cu m of storage capacity.
For the joint venture partners it is Oiltanking’s first South African fuel terminal, Calulos first clean product terminals and for Grindrod, the Ngqura liquid storage facility provides diversification into fuel storage and handling and aligns with its coastal tanker shipping through Unicorn Tankers.
“The new modern facility will service the oil majors, new entrants into the South African oil industry as well as international traders – all supporting the local shipping industry,” the joint venture partners said in a statement.
Posted 05 May 2017