Oiltanking moves into Mozambique with latest purchase

Oiltanking GmbH has announced the purchase of a stake in Galana Mozambique Ltd., which will grant the German company influence over two storage terminals in Mozambique.

The transaction will give Oiltanking an indirect shareholding in two terminal projects for the storage and handling of bulk petroleum and chemical products in the ports of Matola and Beira.

The terminal in Matola is currently under construction and will be operational in the second quarter of 2016. Its initial capacity will be 51,000 cbm with land available for further development. Once finished, the terminal will be operated by Oiltaking and branded as Oiltanking Mozambique.

The Beira terminal , which is currently at the development stage, will facilitate imports into the central part of Mozambique, Zimbabwe, Malawi, Zambia and the Democratic Republic of Congo.

Mozambique is one of the main transit hubs for petroleum products on Africa’s east coast