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R650m fuel storage injection for Cape economy

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Netherlands State Secretary for Economic Affairs and Minister for Agriculture Martijn van Dam at the ground-breaking ceremony of Burgan's fuel storage facility. (Rusana Philander)
Netherlands State Secretary for Economic Affairs and Minister for Agriculture Martijn van Dam at the ground-breaking ceremony of Burgan's fuel storage facility. (Rusana Philander)

Cape Town - Burgan Cape Terminals commenced construction of the first independently-owned fuel storage facility in the Western Cape with a ground-breaking ceremony this week.

The terminal - designated as a strategic project - is the first to be implemented under the government’s Operation Phakisa and is expected to give the local economy a R650m boost.

Burgan Cape Terminals is a black-empowered South African oil storage company. It is a joint venture between Thebe Investment Corporation, broad-based black economic empowerment company Jicaro and Rotterdam-based international terminal operator VTTI.

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