M a r k e t N e w s
Tanzania To Invest USD 11 Million To Increase Fuel Storage
Posted on : Friday, 22nd May 2015
Tanzania International Petroleum Reserves Limited (TIPER) will invest USD11 million to increase its fuel storage capacity from 141,000 cubic metres to 213,200 cubic metres.
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The investment will also increase operational efficiency.
According to TIPER Managing Director Daniel Belair the overall objective is to reach a capacity of 313,200 cubic metres in the near future, to meet the sustainable growth of fuel products.
Tiper is a 50/50 joint venture between Oryx Energies and the Government of Tanzania.
It is a former refinery commissioned in 1969 by the Tanzania Petroleum Development Corporation (TPDC) and the General Italian Oil Company (AGIP).
It has since been turned into a modern tank farm and has become one of the largest bulk import and storage sites in sub-Saharan Africa.
Source : TANZANIA INVEST
