Germany’s Oiltanking GmbH acquires stake in Galana Mozambique

oiltanking

(2015-12-10) German company Oiltanking GmbH has acquired a stake of Galana Mozambique, taking on an indirect stake in two projects to make tanks for fuel and chemicals in the ports of Matola and Beira, the company said.

Oiltanking announced in a statement issued in Hamburg that the Matola terminal – under construction with operation scheduled for the second quarter of 2016 – has an initial capacity of 51,000 cubic metres and has enough land for expansion in the future.

The second terminal will be built at Beira. It is at the design stage and will make it easier to import chemical and petrochemical products into the central region of Mozambique and neighbouring countries.

Following this acquisition, which is expected to be completed in December, Oiltanking will take over management of the Matola fuel terminal, which will be renamed Oiltanking Mozambique.

Galana Mozambique is a subsidiary of the Galana group of Mauritius, which focuses its activities on the marketing, transportation, storage and distribution of refined oil products in eastern and southern regions of Africa.

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a family business based in Hamburg that operates in the supply, marketing and logistics of oil products and has 73 terminals in 22 countries in Europe, the Americas, Africa and Asia.

Source: Macauhub

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