Mozambique: Mining suspension in Manica province awaits decision from MIREME - report
Mozambique: Galp to invest €125M in fuel storage bases
12:03 CAT | 28 Aug 2019
File photo: Lusa
Portuguese energy company Galp will increase fuel storage capacity in Mozambique with an investment of $138.7 million (around €125 million) in new logistics parks, the company said on Tuesday.
Galp is building bases for receiving, storing and shipping liquid fuels and gas in the city of Beira, in the centre of the country, and in Matola, suburbs of Maputo, which are expected to be operational next year, said Paulo Varela, chairman of the company in Mozambique.
The logistics terminal under construction at Matola will contribute to boosting the use of port and rail infrastructures, to the benefit of the country.
The new base “brings greater security and reliability in the supply of LPG [bottled gas], doubling the capacity of reception and storage in the southern area,” to six thousand tons.
The new bases will also create conditions to supply neighbouring countries, widening Galp’s area of influence in southern Africa.
With the ongoing investments, the company will have four logistics parks in Mozambique, a country where it has 62 fuel stations, 120 direct jobs and around 2,000 indirect, and is expected to increase to 150 and 2,500 in 2020, respectively.
In 2017, Galp’s turnover in Mozambique in the area of fuel distribution was €128 million, which increased to €163 million euros in 2018.
Source: Lusa
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.