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Wednesday, November 20, 2013
Corridor Gas and Oil Terminal reported that it will start construction on the planned LPG plant in Namibia this coming January. The plant will be built in Lüderitz.
Leevi Tshoopara, a director of the company said Corridor and its international partners intend to supply the Namibian market with LPG after identifying serious shortfalls in the region. “An independent company was contracted to do a regional market study which proved the viability of the project,” said Tshoopara.
Corridor is a JV between Ehalo Investment Holdings, a local company, and Pula International, a Botswana-based company.
“The proposed development is intended as an LPG importing terminal for the South African Development Community (SADC) countries, namely, Botswana, Namibia, Zimbabwe, Zambia and Northern Cape of South Africa, who are currently struggling to obtain LPG during peak seasonal times,” said Tshoopara. He said the technical partner in the project is Emirates National Oil Company from Dubai.
“The objective of the partnership is to construct a new LPG storage along with handling and distribution facility at Lüderitz. This project involves bulk LPG storage with a working capacity of 3,000 metric tons and associated product handling systems. The proposed site at the Lüderitz Port will give access to the South African market, with shorter distance to Cape Town, Johannesburg, Gaborone in Botswana, Zambia, and Zimbabwe,” he said.
The site is further supported by the construction of a distribution hub networks throughout the targeted countries.
“The distribution hubs and local partners for hubs have already been identified. Distributors in the targeted markets have been identified and the competitiveness of pricing will also attract other companies currently trading in LPG industry,” he said.
The company secured a term sheet for the funding of $30 million for the establishment of the terminal from African Import and Export Bank and has signed the lease agreement with Namport for the land.
“The company has obtained all approvals from the government relevant ministries inclusive environmental clearance to proceed with the project,” he said.
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