eSwatini-Infrastructure-Oil reserve

Taiwanese firm takes over $64m eSwatini oil infrastructure project

APA-Mbabane (eSwatini)

A Taiwanese company will construct an oil reserve worth $64.3 million after the break in an agreement with a previous contractor.

Local media reported Thursday that the Taiwan-based company will resume business in March after the signing of an agreement between the ministry of Natural Resources and Energy and the company.

Minister Peter Bhembe said, “We are currently in the process of renewing the designs so at the moment it is impossible to state the exact cost of the project, save for that it was at $64.3 in 2013 when the construction tender was awarded to Kantey & Templer Swaziland (Pty) Ltd.”

The Kantey and Templer deal was a Build, Own, Operate and Transfer (BOOT) agreement meaning that government would resume ownership of the facility at the end of the accord’s lifespan, 20 years later.

The reserve located at Phuzumoya in the Lubombo region will have a 90 million litres fuel capacity to last the country 90 days.

It would store 42 million litres of diesel and 38 million litres of petrol.

BM/as/APA

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