Tanzania International Petroleum Reserves Limited (TIPER) is set to boost its storage capacity by more than 50 per cent later this month
Two storage tanks owned by the company, each with a capacity of 36,000 cu/m, are expected to go on stream soon. Both the tanks have undergone major refurbishment and other upgrades at an investment of US$11mn. TIPER’s storage capacity will go up from the current 141,000 cu/m to 213,000 cu/m after completion of the project.
“The project is in its final stages and we are delighted to have the opportunity to provide greater storage convenience,” a statement from the company said, quoting Paul Mnzava, deputy managing director. He also said that both the tanks were being painted and also that the Weights and Measures Agency was calibrating them. “We plan to have them ready by the end of this month so as to be in a position to receive products,” he added.
To meet the growth in fuel product imports, TIPER plans to build new tanks and increase the capacity by a further 100,000 cu/m to reach 313,000 cu/m in the near future. Simultaneously, the company is going to invest another US$2mn to replace its current pumping system set-up with higher performing and reliable pumps as well as upgrading flow meters.
TIPER is a former refinery that has been turned into a modern tank farm providing mass storage to all trading and marketing companies looking for storage facilities. The oil storage firm is jointly owned by government of Tanzania and Switzerland-based Oryx Energies SA., each with a 50 per cent stake.
