Petredec has put finishing touches to its Liquefied Petroleum Gas (LPG) storage facility at Mer-Rouge in Mauritius with the aim of boosting supply of fuel to the island economy, as well as to function as a re-export hub.
The terminal, to be officially inaugurated on March 20, 2014, will be the largest on-land LPG storage facility in the African region and will import and supply around 65,000 metric tonnes per annum of LPG to the State Trading Corporation of Mauritius.
In 2010, the government of Mauritius provided approval to Petredec Investments Ltd for the construction of a 15,000 to 20,000 metric tonnes LPG storage terminal. Petredec, through its wholly owned subsidiary Petredec Mauritius Ltd, had joined forces with local entrepreneurs for part of the development and is looking forward to the facility to commence operations for enhancing its position in the region.
The jetty can accommodate the largest LPG carriers ever built, which have a capacity of 84,000 cubic meters. Incidentally, Petredec has 12 such vessels on order.
The terminal will also act as a trading hub allowing the re-export of LPG in excess of 100,000 metric tonnes per annum to regional markets located in the Indian Ocean region.
In addition, Mauritius will be poised to act as the central hub for supplies within the region: Southern and east Africa, as well as nearby islands, in particular Reunion Island, Mayotte and Seychelles.
In the latest news, the company stated that with such a facility, the island will be provided with access to a wider range of supply sources, economies of scale and supply security.
“This is an exceptional opportunity for all concerned to build a modern facility that can add significant value to the economy of Mauritius and provide a secure and reliable supply source for the future requirements of the region,” said Giles Fearn, Petredec Group CEO.
Today, Petredec is one of the world’s largest LPG trading and shipping companies delivering in excess of 10 million tonnes per year to customers across 5 continents.
Petredec also purchased Chevron’s LPG distribution business on the neighbouring island of Reunion back in 2008 and currently distributes as Petregaz.
Petredec has held the supply contract into Mauritius for five out of the last six years as a result of winning the annual tenders and, together with similar contracts to other receivers in the region, is keen to continue its commitment to the region over the long term.
Image (Petredec): Petredec’s LPG storage facility will serve to import and supply around 65,000 metric tonnes per annum of LPG to the State Trading Corporation of Mauritius.
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