Oiltanking acquires stake in Galana Mozambique

Oiltanking acquires stake in Galana Mozambique

9:17 AM, 11th December 2015
Oiltanking acquires stake in Galana Mozambique

HAMBURG, GERMANY: Oiltanking GmbH said that it has signed an agreement to acquire a stake in Galana Mozambique Ltd, giving it an indirect shareholding in two terminal projects for the storage and handling of bulk petroleum & chemical products in the ports of Matola and Beira.

The acquisition is expected to be completed by mid December.

The present transaction will further strengthen Oiltanking’s presence in Africa and enhance its ability to serve new market segments on the east coast of the continent.

The terminal in Matola is currently under construction and will be operational in the second quarter of 2016. Its initial capacity will be 51,000 cbm with land available for further development. The terminal has access to a jetty with a draft of 11 metre.

The terminal will be equipped with rail- and truck-loading facilities to serve southern Mozambique and neighbouring countries like Swaziland, Zimbabwe, Botswana and the northern provinces of South Africa.

Another terminal is slated to be built in Beira, located centrally along the Mozambican coast. The terminal, which is currently at the development stage, will facilitate imports into the central part of Mozambique, Zimbabwe, Malawi, Zambia and the Democratic Republic of Congo.

Oiltanking will advance the development and construction of the terminal in Matola. After completion, the terminal will be operated by Oiltanking and branded as Oiltanking Mozambique.

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