Cader Sayed-Hossen: ''The State Will Be a Petroleum Hub Soon''

Thus, Port-Louis has a comparative advantage as a transshipment port and harbor bunkering of petroleum products. Just last year, some 20,000 ships passed near coasts. Thereby MMCO Ltd is now positioned as a strategic player in the development of our oil and port activities. This is what the Minister of Industry and Commerce, Cader Sayed-Hossen, said at the inauguration of a Fuel Storage Facility Thursday afternoon, Taylor Smith House, Port Louis.

'' Last year, the country sold 270,000 tons of petroleum products by the 'bunkering'. By the end of this year, we hope to surpass the 500 000 tonnes of petroleum products since the market was liberalized. The government also has the idea to set up a floating vessel to the 'bunkering' high seas With this project comes to fruition, the wish to make the port of Port-Louis a Petroleum Hub will be realized in shortly,'' said the Minister of Industry and Trade.

The latter also added that the government has adopted a national strategy to Mauritius, an oil hub in the Indian Ocean. '' This area is becoming a pillar of our economy. The legal framework is already in place. Now it is up to operators to play their role,'' has said Colin Taylor, CEO of Taylor Smith Group, himself has said that by December 2014, the conversion of two additional tanks will be completed, allowing and storage for a total of 17 000 tonnes. '' We could count on the trust of our shareholders who believe in the future of this sector in Mauritius and supported investment of over Rs 100 million needed for this conversion,'' he says.

MMCO today puts its reservoirs serving the oil companies to exploit the new opportunities offered by the market, following the liberalization of heavy oils (Bunker Oil) announced by the Government in Budget 2014. This additional storage facilitate trade in petroleum products, contributing thereby to position the destination as a major oil hub in the Indian Ocean. 

This new tank was built according to international standards of the oil industry. '' We have a fire suppression system perfected powered seawater can pump 1,500 liters per minute, walls and floors sealed 100%, a retaining wall around the tank and all other security services along the supply chain,'' said Colin Taylor. 

'' The staff is deeply involved in the operations of this new space. Employees have attended specialized training in order to be operational,'' for his part, said Jean Claude Ng, General Manager of MMCO.