Angolan President, H.E. João Lourenço has authorized €547M (434 billion kwanzas) for the construction of the Barra do Dande Terminal in the Bengo province, Angola.
According to the president, the infrastructure is expected to be operational in the first half of 2022 and will be used as an onshore storage unit for refined oil products. The terminal – with a storage capacity of 641,500 cubic meters in the first phase and doubling in storage capacity in the second phase, totalling one million and 700 thousand cubic meters of oil products – is also expected to meet the needs of national consumption and the creation of strategic reserves.
Also read: UAE to invest US$600M in petroleum storage in Angola
In November 2019, Angolan state-owned oil company Sonangol and the United Arab Emirates announced the resumption of the construction of the Barra do Dande oil products logistical base, which was interrupted in 2016, with an investment of US$600M expected in the first phase of the project.
The project will be constructed and managed under a joint venture (JV) between Sonangol and Sheikh Ahmed Dalmook Al Maktoum. The JV is expected to ensure the safety of refined products, optimize the efficiency of national distribution logistics for these refined products and leverage the country as a regional hub for oil products storage are other objectives of this installation.
Original article on Africa Oil & Power