Cader Sayed-Hossen: "The STC-Mangalore Contract Almost Finalized"

Cader Sayed-Hossen contends that negotiations, which kick off was given in February this year, continued until very late Thursday and the few remaining gravel have been flattened. Hence his statement that the STC-Mangalore contract is almost finalized. The current contract comes to an end on July 29.

Trade Minister also said that there is no risk of shortage. "We have taken all necessary steps to ensure that we have enough fuel until September," he told reporters.

"Mangalore, the best option"

Trade Minister Cader Sayed-Hossen revealed that the dots 'delicate' have long been discussed before finding the 'balance' in the negotiations on the renewal of the STC-Mangalore contract for the supply of petroleum products to the next three years. The issues discussed are: the 'premium rate', the billing period, the terms of credit and remedies for delivery of contaminated products.

"No later than Thursday evening, Minister Sharma (Editor's note: currently in Mauritius under the IOR-ARC conference) and I have had discussions on the points that were pending. This allowed us to clear the ground, "he said.

According to the Minister, may, by the developments, that the contract be signed this month. To the question of whether Matinal Mangalore is the best option, it will respond in the affirmative and say that Mangalore is the only port where you can have all the seven petroleum products we import.

In that it is the 'oil spill' in the port area due to a problem with a pipeline of Vivo Energy, Cader Sayed-Hossen said the situation is under control. "About seven tons of heavy oil had spread on the ground and a certain amount has continued its path of water. Fortunately, the authorities acted swiftly to control the situation. A police investigation is underway to determine the exact circumstances of this incident, "he said.