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Cape Town's fuel storage terminal expansion
A two-year R650m investment will be part of the expansion of the oil and fuel storage terminal at Cape Town harbour, to make it a multi-use and multi-product facility.
Burgan Cape Terminals is expanding the oil terminal at Cape Town Harbour's mole to accommodate different types of oil and fuel. Image: Skyscraper City
The deal was announced by Burgan Cape Terminals, which also said Transnet Port Authority, owners of Cape Town harbour, had granted the company a 20-year lease of the facility, located in the harbour mole - an island-like feature. The facility will be the first non-oil company specific terminal, which means any oil or fuel company may lease space for their products.
Burgan is a joint venture with 70% held by Dutch-based storage group VTTI and 15% each by 100% black-owned Thebe Investment Corporation and Jicaro.
A 10-year deal has been signed with an unnamed anchor tenant and a smaller tenant, which will have a combined throughput of 805,000m² of product per year.
They will mainly off-take their products from the Chevron refinery about 30km from the harbour. The new tenants will start storing product from June 2016.
Burgan Cape Terminals Chief Executive Wandile Mseleku said the expansion of the terminal would include bigger truck loading space and an additional tanker berthing facility.
Source: I-Net Bridge
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