BP’s oil terminal at the Mozambican port of Beira needs investments to be made in it in order to respond to growing demand in central Mozambique and from neighbouring Zimbabwe and Malawi, said the managing director of BP Mozambique.
At a session to present the environmental impact study, carried out by Mozambican company Impacto, Martinho Guambe said that the group would invest US$22 million in the terminal in order to give it more reception and storage capacity.
The project, which is due to begin in mid-December and be finished in the first half of 2015, includes construction of five tanks, repair of another two tanks, installing new equipment and accessories and a security and fire-fighting system.
The terminal, which was built in 1930, currently has seven tanks, five of which will be demolished as they do not meet international operating safety standards for fuel terminals.
At the beginning of October, BP’s director for Southern Africa, Thandi Orleyn, announced that the group would invest US$85 million in Mozambique over the next five years in new projects and in modernising facilities in the country.
“The biggest portion of the investment, US$75 million, will be spent on modernisation of infrastructure in order to improve the safety and reliability of shipments to the port terminals of Nacala, Beira and Matola,” Orleyn said.
BP currently has an 18 percent share of Mozambique’s fuel market, with the sale of 240 million litres of fuel per year. (macauhub)