The transaction is subject to relevant regulatory approvals. This acquisition adds a liquid bulk terminal in Durban and one in Cape Town to the global network of Oiltanking. The business further consists of a specialized road tanker fleet.

Both terminals (Grindod Tank Terminals Durban and Cape Town) play a key role in the import and redistribution of molasses and vegetable oils. Besides these products, the company has secured licenses to store and handle high flash point products (e.g. vegetable oils, glycols, caustic soda and base oils).

The acquisition is the first step of Oiltanking’s strategy to provide its know-how and expertise in liquid bulk logistics to the South African market where there is a great need for its services. It gives Oiltanking Grindrod Calulo an immediate presence in two key ports, of which one is the busiest in Africa. Vegetable oil demand is projected to increase making it a key industry to focus on, besides the vast opportunities in the high flash point product segment. Both terminals have sufficient land and jetties available for further expansions.

Oiltanking Grindrod Calulo is also the preferred bidder for the bulk liquid terminal in the Port of Coega where it expects to sign a definite agreement with the South African Port Authorities in the near future.

Oiltanking Grindrod Calulo is an independent bulk liquid storage provider in South Africa combining the world class expertise of Oiltanking GmbH in the field of bulk liquids handling with the local expertise and the full Black Economic Empowerment credentials of Grindrod South Africa (Pty) Ltd and Calulo Terminals (Pty) Ltd. Through direct holdings via Calulo and an indirect holding via Grindrod South Africa, the joint venture is a fully empowered entity with a level 2 empowerment classification.