March 4, 2022 [IOL] – THE BIDVEST Group, having recently built one of the biggest LPG (liquid petroleum gas) facilities in the world at Richards Bay, is to spend another R500 million to establish an inland LPG terminal in Isando, Ekurhuleni, chief executive Mpumi Madisa said.
“This is twice the size of our original ambitions, and we anticipate commissioning towards the end of 2025,” she said in a phone interview at the release of the group’s results for the six months to December 31, 2021, yesterday.
Madisa said the decision to build the Richards Bay facility was at a time of a shortage of LPG gas in SA, and even then the facility was not big enough.
The group now expected demand for its LPG facilities to also increase with the closure of the Sapref oil refinery, which used to produce LPG along with other fuels, she said.
In addition, local demand for LPG gas was being boosted at a time when companies, particularly in manufacturing, and consumers were struggling with the continuity of electricity supply for their operations.
Pro Trial: Access 10,390 Tank Terminal and Production Facilities
10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data
