April 28, 2014 [Reuters] - Oryx Energies, chaired by oil tycoon Jean Claude Gandur, said on Thursday it planned to complete a $40 million jetty in Sierra Leone for fuel shipments to and from the West African country by early next year.
Many oil executives tip Africa to be the fastest growing continent for fuel demand in the next decade, catching up with and possibly overtaking Asia. Sierra Leone’s economy grew by 20 percent last year, according to the IMF.
“The $40 million project is expected to be completed by early 2015 and will enable the country to receive larger and more modern oil tankers for the import and export of products,” an Oryx statement said on Thursday.
The new jetty is located at the Kissy Oil Terminal in the capital Freetown where Oryx, the energy division of private investment group AOG, also manages oil storage facilities.
