Island Eyes Petroleum to Boost Economy

11 years, 8 months ago - 3 July 2012, the Independent
Island Eyes Petroleum to Boost Economy
The government is looking into creating a new pillar for the Mauritian economy through the re-distribution of petroleum products in the countries of the Indian Ocean.

The ministerial cabinet took the decision on Friday for the setting up of a high-level committee to define a strategy to make Mauritius a ‘Petroleum-based Service Industry.’

The High Level Commitee will be chaired by minister of Public Infrastructure, Anil Bachoo. It will also see the participation of the minister of Education and Human Resources Dr Vasant Bunwaree and the minister of Industry, Trade and Consumer Protection Cader Sayed Hossen.

The committee will be responsible for defining a national long-term strategy with the view to transform Mauritius into a regional hub for petroleum products.

The three ministers will also propose appropriate solutions for the need for adequate storage capacity to avoid market shortages, as well as the eventual positioning of Mauritius in a pivotal role on new oil route.

Recently, opposition leader Paul Bérenger had asked the government not to proceed with the initial draft of United Petroil Ltd.