Total Egypt, Ola Energy to construct Alexandria petroleum storage facility
Total Egypt, OLA to partner in Alexandria Petroleum Products Terminal construction
Total Egypt and OLA Energy Egypt have signed a joint venture agreement to jointly own, build, and operate a new petroleum products terminal in Alexandria.
The Alexandria Petroleum Products Terminal (APPT) will be built at the Mex Petroleum Zone on a 23,000 square metre plot of land and will have an initial storage capacity of 10,000 cubic metres. The APPT will serve as the main supply point to both companies’ customers and service stations in Alexandria, as well as in the North Coast and North Delta regions.
Located in close proximity to the main refineries in Alexandria and the petroleum products jetty, the terminal will also have close access to the National Petroleum Pipeline Grid.
In its initial phase, the APPT will include four gasoline, two gas-oil tanks, and a truck-loading gantry, and is expected to be operational by the last quarter of 2022. The terminal expansion will occur over two phases, and has been carefully planned to allow for maximum flexibility to meet potential changes in market conditions.
“Total Egypt is proud to expand its logistics resources with a new Petroleum Products Terminal in Alexandria, a main entry point of supply on the Mediterranean,” said Peyami Oven, Managing Director of Total Egypt, “The APPT will complete our supply set up with existing terminals in Mostorod and Suez.”
Oven added that the terminal will enable Total Egypt to secure its growth plans across all strategic locations, reflecting the company’s vision to fulfil its customers’ needs and to deliver the best quality services.
He also said, “This project is a new milestone of the company’s ambition to grow and its commitment to develop the petroleum supply chain and increase its market share.”
The Petroleum Products Terminal in Alexandria is a strategic investment that secures a reliable supply hub for OLA Energy Egypt, enabling it to serve the company’s network of retail stations across Alexandria, the North Coast and the North Delta.
“The project reflects the OLA Energy Group’s guiding vision to be one of the major downstream marketers in Egypt, and in Africa as a whole,” said Ahmed Elgembri, General Manager of OLA Energy Egypt.
(Source: Daily News Egypt)