RCC/Chinese joint venture to construct bulk fuel storage

07 Jul 2014 19:00pm
WINDHOEK, 07 JUL (NAMPA) – A joint venture between the Roads Contractor Company (RCC) and China Harbour Construction Engineering company has been awarded the tender for the construction of the bulk fuel storage facility at Walvis Bay.
National Petroleum Corporation of Namibia (Namcor) Managing Director Obed Ndjoze told Nampa on Monday the more than N.dollars 4 billion tender, which was advertised last year, has been awarded to the joint venture. Construction of the highly anticipated storage facility is expected to commence soon.
Namcor is seeking to secure access to strategic storage, with the government currently managing a project to build a 75 million litre storage facility in Walvis Bay that Namcor will operate.
The project will be constructed on Namcor land at the under-construction Walvis Bay north harbour south of Aphrodite beach.
“This is a national project and will be a strategic long-term investment for the country which can used to keep fuel stock reserves in case of an emergency that may arise nationally or international,” Ndjoze said.
He said the storage facility will be able to store fuel stock reserves for up to 30 days when the international market is not stable.
Currently, Namibia’s fuel stock reserve can only hold fuel reserves for 15 days.
The Namcor Managing Director indicated that countries like China and the United States of America have fuel stock reserves for up to six months.
The construction of the national oil storage will include a pipeline facility which involves the engineering, procurement and construction of a 75 million litre oil storage facility, buffer pump station, petroleum pipelines and oil tanker jetty.
Namcor has around a nine per cent share of the wholesale distribution market and it manages three depot facilities across the country, although it does not have any retail sites.
The company currently receives a levy income of 7,6 cents per litre of regulated fuel product sold within Namibia.
(NAMPA)
MMT/AS