R650m terminal for Cape Town
A motorist holds a fuel pump at a Gulf petrol station in London in this April 18, 2006 file photo. Oil dropped nearly 2 percent on March 20, 2012 as Saudi Arabia sought to knock back crude's price rise that has threatened the global economy, with the oil minister offering the most detailed argument to date that the OPEC nation was prepared to meet any supply shortfall. REUTERS/Luke MacGregor/Files (BRITAIN - Tags: BUSINESS ENERGY COMMODITIES) A motorist holds a fuel pump at a Gulf petrol station in London in this April 18, 2006 file photo. Oil dropped nearly 2 percent on March 20, 2012 as Saudi Arabia sought to knock back crude's price rise that has threatened the global economy, with the oil minister offering the most detailed argument to date that the OPEC nation was prepared to meet any supply shortfall. REUTERS/Luke MacGregor/Files (BRITAIN - Tags: BUSINESS ENERGY COMMODITIES)
Capw Town - A new R650 million fuel terminal that will create about 350 new jobs has been launched in Cape Town.
Earmarked as a greenfields project, the Burgan Cape Terminals was launched on Thursday by the Dutch Minister of Agriculture and State Secretary of Economic Affairs Martijn Van Dam, and the South African DG of the Department of Trade and Industry (DTI).
DTI DG Lionel October said the Burgan Cape Terminals, with a storage capacity of 118 670 m3 was an Operation Phakisa project, which was “the first major project to be rolled out in the port of Cape Town”.
The terminal, which would create about 350 new jobs is expected to be completed in 2017.
October said this project, which would generate economic growth in the Western Cape and ensure fuel security, was a “good example of how the state and private sector can work together in achieving our strategic objectives”.
Dutch Agriculture Minister Martijn Van Dam said it was fitting that “a Dutch company such as VTTI, which has a long history of port operations, logistics and distribution in the oil and gas sector, is part of the Burgan Terminal project.”
The project is a partnership between Dutch terminal operator VTTI and South Africa's Thebe Energy.
AFRICAN NEWS AGENCY