PHOTO
Tanzania’s Ministry of Energy and UAE’s Emirates National Oil Company Group (ENOC) have signed a memorandum of understanding (MoU) for the construction of petroleum receiving and storage infrastructure, The Citizen newspaper reported.
The decision seeks to make Tanzania a petroleum hub in East and Central Africa and maintain the country’s fuel demands for up to six months.
Tanzania Minister for Energy January Makamba said the new infrastructure will reduce delay times for offloading oil products, especially in transit to neighbouring countries.
He expected the two sides to finalise an investment contract worth between $400 million and $500 million in the next two to three months.
ENOC Group chief executive officer Saif Humaid Al Falasi pledged to cooperate with the government in resolving challenges facing the energy sector in the country, the report said.
(Writing by P Deol; Editing by Anoop Menon)
