Bidvest to develop new South African LPG import facility for Petredec
Petredec Limited and Bidvest Tank Terminals have entered into an agreement to develop a new facility for the import and storage of LPG in Richards Bay, South Africa. The facility will be a 22,600 metric tonne storage facility at Bidvest’s existing site in Richards Bay.
The completed facility will be the region’s largest pressurised LPG import terminal, featuring four mounded tanks, each capable of storing more than 5,500 metric tonnes of gas, guaranteeing year-round availability.
Despite growing demand in domestic and regional markets, LPG imports have historically been hampered by high costs resulting from South Africa’s small coastal terminals and distance from major supply hubs. The commissioning of this new large scale facility – also capable of seaborne re-exports to neighbouring countries – will unlock previously unattainable economics resulting in lower supply prices to the local market.
With the breaking-of-ground planned in September 2017 and an estimated 27-month construction schedule, South African consumers can expect to be using LPG imported via the new Richards Bay terminal from Q4 2019.
For more information visit www.petredec.com
19th June 2017