Move as part of company’s expansion plan in the African continent.
Following its recent acquisition of Kencor Petroleum Limited (Kencor) in Kenya, Montfort Group has now successfully completed the acquisition of equity in Matola Terminal de Armazenamento de Petróleos SA, a company which owns and operates oil tanking storage Terminal in the Port of Matola, The Republic of Mozambique. This acquisition falls in line with the company’s strategic expansion plans in the African continent.
The Terminal, which Montfort will own, develop, and operate in close partnership with Energi Asia, has over 58,000m3 of clean product storage capacity. The Terminals’ state of the art latest technologies will enable Montfort to trade its petroleum products across six inland neighboring countries (including Mozambique). The decision to acquire the stake in the Terminal was part of Montfort’s overall objective to expand its business in the region and support Montfort’s aspirations to reach out to customers in South and East Africa.
In addition to boasting superior infrastructural capabilities, safety procedures, equipment and systems and a strategic location, the terminal also offers room for future expansion of storage facilities in tandem with the growth in product volume. It enables the accurate online calculation of quantities transferred in and out of the terminal and features the latest distributed control system (DCS) and fully segregated systems to handle three different product grades to ensure minimum product contamination.
Unlike most of the other terminals in the region, the terminal is one of most recently built and therefore requires minimum maintenance downtime. It is being managed by experienced, well-trained professionals.
Montfort team is looking forward to bringing decades of commodity trading, storage, and logistics expertise to its partnership with Energi Asia. The partnership hopes that a combined effort of two highly experienced and driven companies will contribute to Mozambique’s commercial activity, which in turn will benefit both the local and regional energy sectors.
Montfort Group is a trading house with a diverse portfolio of commodity related businesses. Through investments in selective assets and infrastructure such as LPG, naphtha, gasoline, distillates, fuel oil, crude oil, and petrochemicals among others, it strives to drive market growth for the sector by leveraging its unique capabilities.
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