From All Africa
German company Oiltanking GmbH has entered a joint venture with a number of local companies to build a commercial crude oil storage and blending terminal at the port of Saldanha on South Africa’s south-western coast.
Business Day reported on Thursday that it would cost R2-billion to build the crude oil terminal, which will comprise 12 giant concrete tanks each capable of holding 1.1-million barrels of crude, translating to a total capacity of 13.2-million barrels.
The new terminal will be built “as state-of-the-art facility in accordance with the highest technical, operational and environmental standards,” with a jetty designed to handle vessels up to VLCC (very large crude carrier) size, Oiltanking said in a statement on Wednesday.
The port of Saldanha was an excellent location for a crude oil hub, the company said, “as it is close to strategic tanker routes from key oil-producing regions to major oil-consuming markets.”
Read more at allafrica.com
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