Joint Venture to Build a Tank Terminal in the Port of Saldanha Bay, South Africa
Oiltanking Grindrod Calulo and Mining, Oil and Gas Services Pty Ltd (MOGS) establish a joint venture to construct a commercial crude oil storage and blending terminal in the Port of Saldanha Bay, South Africa. The parties each own a 50% stake in the joint venture, Oiltanking MOGS Saldanha (Pty) Ltd. The plant will later have a total capacity of 2.1 million cbm, distributed to twelve tanks.
Port of Saldanha Bay is an excellent location for a crude oil hub as it is close to strategic tanker routes, connecting key oil-producing regions with major oil-consuming markets. Furthermore, the site is ideal for the blending of crude oils from West Africa and South America.