The global commodity trading and investment company Montfort has announced that it has acquired equity in the Matola Terminal de Armazenamento de Petróleos SA, which operates oil tanking storage at the Matola Terminal (part of the Port of Maputo).
Montfort will own, run, and develop the oil terminal in partnership with Energi Asia, which took over the terminal in June.
According to Montfort, “the decision to acquire the stake in the Terminal was part of Montfort’s overall objective to expand its business in the region and support Montfort’s aspirations to reach out to customers in South and East Africa”.
The oil terminal has over 58,000 cubic meters of storage capacity and will enable Montfort to trade petroleum products in Mozambique and neighboring countries. Montfort points out that the terminal is one of the most recently built in the region so should only need a minimum of maintenance downtime. It adds that the terminal is managed by experienced, well-trained professionals.