WASAA to upgrade newly acquired East London terminal capacity
- 06/06/2022
Local black women-owned and managed petrochemicals company Wasaa has completed the acquisition and handover of the East London liquid fuel import terminal from energy multinational BP Southern Africa (BPSA).
The company’s subsidiary Wasaa Terminals will upgrade and increase capacity of the terminal. Investment projects have been identified to reduce bottlenecks at the terminal, as well as potentially to reduce bottlenecks at the port, said Wasaa Group CE Nokwanele Qonde.
“Our operations do not extend to the port, but we are collaborating with the Department of Transport to work towards this,” she said during the handover ceremony.
Wasaa Terminals acquired 100 percent of the terminal’s movable assets and a 20 percent stake in the berth to terminal pipeline.
The deal will significantly entrench Wasaa’s position as an emerging commodity trader in the region and forms part of BPSA’s long-standing commitment and efforts to support transformation in the energy sector, said BPSA CEO Taelo Mojapelo.
“For us, this is a game-changer and significantly scales up Wasaa Terminals and opens further opportunities for us and other women in the industry,” said Qonde.
Source: storageterminalsmag.com
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