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.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Praj’s ethanol technology to be used in Argentina bio refinery expansion

PUNE, INDIA: Praj industries ltd said that it has been selected by Ingenuity Tabacal, a subsidiary of Seaboard Corp, to provide technology in expansio ...

Read more
PolyOne acquires Magenta Master Fibers from BASF in $22m deal

CLEVELAND, US: PolyOne Corporation said that it has acquired the Magenta Master Fibers (Magenta) a developer of specialty solid colour concentrates fo ...

Read more
Anglo American to restructure, cut jobs, sell phosphate business

LONDON, UK: Anglo American Plc, a multinational mining company said that due to its low shares record the company would sell huge chunks of its busine ...

Read more
Kemira acquires certain assets of US firm Polymer Services

HELSINKI, FINLAND: Kemira Oyj said that it has acquired certain assets of Polymer Services LLC, a privately owned company, headquartered in Plainville ...

Read more
Frutarom’s 12th acquisition this year; buys flavours firm in Hong Kong

HERZLIYA, ISRAEL: Frutarom Industries Ltd said that it acquired 100 percent of the share capital of the Hong Kong based companies Inventive Technology ...

Read more
Dow Chemical and DuPont are in advanced talks to merge

NEW YORK, US: Dow Chemical Company and DuPont Company said that they are in advanced talks to merge, in what would be a combination of two of America& ...

Read more