South African logistics company Transnet SOC Ltd has agreed to develop a US$853mn oil and gas service facility at the Saldanha Bay port in the country’s Western Cape province
The facility will be an offshore hub meant to supply food and materials, collect waste and fix oil rigs at the Saldanha Bay port located 125 km northwest of Cape Town. The project will also expand a jetty to accommodate floating docks that will build and repair vessels, stated Transnet SOC officials.
There are 80-100 oil rigs operating off the west coast of Africa, creating a sizable captive market for Saldanha Bay port. An additional 120 oil rigs pass the southern tip of South Africa, making this a potential market, added officials.
The South African company’s offshore project is expected to create 6,300 direct jobs and a further 25,200 indirect employment opportunities. Transnet SOC is currently working to improve rail links and port capacity in South Africa, and is financing projects by tapping into local and foreign debt markets.
