Global commodity trading company Montfort has acquired a 58, 000 m³ oil product storage facility in the port of Matola in Mozambique.
Montfort bought the storage from Matola Terminal de Armazenamento de Petróleos, a company that owns and operates an oil tanking storage facilty at the port. Montfort plans to operate and develop the clean products storage in close partnership with Malaysia-based trading firm Energi Asia.
The acquisition is in line with Montfort's expansion plans in Africa, and follows its recent purchase of a majority stake of Kenyan oil marketing company Kencor Petroleum.
Montfort's bunkering arm recently started deliveries of marine fuels at Fujairah in the UAE, the world's third-largest bunkering hub.