25-year deal signed for new Port of Durban LPG terminal
A 25-year terminal operator agreement to develop and operate a new R1.4-billion liquefied petroleum gas (LPG) terminal at the Port of Durban’s Island View precinct has been concluded.
The deal was signed on December 12 between the Transnet National Ports Authority and a JV comprising WASAA Gases, a black and woman-owned entity, and the State-owned Central Energy Fund.
The JV will build a 50 000 m³ LPG terminal, also known as the LOT 100 Terminal, which will have an hourly capacity to dispatch up to 800 m³ of heated LPG mix.
The terminal will be equipped to store and handle all standard LPG products including 100% butane, 100% propane, and LPG blends.
WASAA reported in a statement that the Development Bank of Southern Africa (DBSA) had committed to fund the project and had also secured the rights to become the lead arranger for the deal.
“With the DBSA in our corner, we are confident that the project will attract the requisite investment,” WASAA founder and MD Nokwanele Qonde added.
She said the terminal would also further enhance the company’s position in the petrochemicals market, following its procurement of bp Southern Africa’s liquid bulk fuels import terminal in East London in 2022.
The LOT 100 Terminal is planned to come into commercial operation in the last quarter of 2027 and will help diversify South Africa’s ports of entry for LPG imports beyond the current facilities in Richards Bay, Saldanha Bay, and Port Elizabeth.
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