Usakos teams with MDL to develop 200mn liters oil storage facility
Date: 2018-05-07   Author: Ojaswita Kutepatil  Category: #market

Usakos teams with MDL to develop 200mn liters oil storage facility

MDL International, provider of customized logistics solutions for O&G companies, has recently unveiled its plans to develop a fuel storage facility at the coastal town of Usakos, 180 km away from Walvis Bay on the western coast of Namibia. Sources cite that the Usakos Town Council will be teaming up with MDL International & foreign financiers to develop the project.

Reportedly, the oil storage facility will have capacity to store more than 200 million liters of oil that will be distributed to the South African markets. For the record, the overall project cost is estimated to surpass R3 billion.

MDL International and other financial investors are planning to distribute the products to countries such as the Democratic Republic of Congo, Angola, Zimbabwe, and Botswana.

For the uninitiated, MDL International is a globally renowned oil & gas industry player and is actively engaged in shipping & logistics activities. The company provides highly integrated and innovative solutions to mining, infrastructure, and energy sectors.

Industry analysts deem that the massive investment project is a large-scale undertaking for the regional oil storage market and is all set to change the sleepy town into an active urban logistics center. The project is moreover expected to generate around 1600 direct & indirect employment opportunities, cite sources familiar with the matter.

Ivin Lombardt, Chief Executive Officer of the Usakos Town Council, was reported saying that MDL has already begun phase 1 of the oil storage project that will establish a logistic center. The phase 2 on the other hand will follow the construction of the storage terminal. He further added that the phase 2 of the project will last for a number of years, subject to the huge size & scale of the project.

According to the CEO of Usakos, the Namibian entrepreneurs and business firms are expected to take advantage of the growing opportunity to provide other upscale services, as the investment in the regional oil storage market is expected to define Usakos’ future in a massive way.



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Ojaswita Kutepatil

Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. Currently, she works at AlgosOnline. as an Content writer, where she pens down write-ups pertaining to the market res...

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