Tank storage company Vopak and investment holding company Reatile unveiled plans to further expand in South Africa by investing in a new LPG import and distribution terminal.
The facility, to be located in Richards Bay, would have an initial capacity of 15,000 cbm. The companies informed that the deal is subject to final conditions.
“This investment facilitates further imports of a cleaner energy source into South Africa,” Vopak said, adding that the additional storage capacity is expected to be commissioned in the second quarter of 2020.
Additionally, Vopak revealed its intentions to expand its wholly-owned gas terminal in Vlissingen, the Netherlands, by 9,200 cbm of capacity for LPG and chemical gases to serve the NWE market. The additional storage capacity is also expected to be available from the second quarter of 2020.