The expanded oil imports storage warehouse operated by Gulf Bulk Petroleum (GBP) at Tanga Port will soon be operational.
GBP Tanga Area Manager Amour Ali said that under the bonded warehouse system, the company would receive all oil consignments in bulk.
He said that the company was negotiating with the government on the modalities for the commencement of bulk imports.
Mr Ali said the company was inviting other players to use the expanded and improved storage facility for storing their imported oil. He added that the company has been able to improve its facility, which has cut offloading time from between five to six days to two days for 40,000-tonne ships.
“This will also enable shippers to cut down costs,” he said.
GBP, the first local firm to win a tender to import petroleum products in bulk, has announced plans to double its storage capacity in a bid to serve more countries in East and Central Africa.
The company says it is planning to increase its capacity to store 300,000 tonnes, or 376.16 million litres of petroleum products.
The first phase of increasing the capacity of the storage facility will boost the capacity to 182.5 million litres, while the second phase will create an additional 60 million litres of space.
Mr Ali commended the Tanzanian government for working to improve loading and offloading infrastructure, rehabilitating and renovating the Central line and reviving the Tanga railway line apart from improving logistics at the port.
GBP also handles transit petroleum products to the Democratic Republic of Congo.