Tuesday, June 17, 2008

BOST to build storage tanks for aviation fuel

June 16, 2008 (Page 47)

THE Bulk Oil Storage and Transportation Company Limited (BOST) will early next year begin construction of two storage tanks for the storage of aviation fuel to curb the perennial shortage of the product.
The tanks would have the capacity to store aviation fuel which would be enough to cater for demands for eight weeks in case there was a shortage of the product.
Each tank has the capacity to store 10,000 cubic metres of aviation fuel as a strategic reserve.
The Managing Director (MD) of the BOST, Mr J.O.K. Addo-Yobo, told the Daily Graphic in an interview that BOST was expecting a loan facility from the US Exim Bank by the close of the year, adding that the receipt of the facility would pave the way for the construction of the storage tanks.
Mr Addo-Yobo stated that the smooth operations of the aviation industry was important for national development and, for that matter, the BOST would treat construction of the storage tanks with utmost priority.
In addition to that, Mr Addo-Yobo disclosed that a pipeline would be constructed from the Tema Port through the Tema Oil Refinery to the Kotoka International Airport to discharge aviation fuel from the refinery as well as discharge imported products.
According to the MD, construction works on the storage facilities would be completed between 18 and 24 months.
Touching on strategic national reserve for fuel products for the country, Mr Addo-Yobo said the country had a current reserve for petrol and diesel for a period of four weeks.
He said construction of additional storage tanks was almost completed to cater for two weeks additional storage capacity of national reserve for petrol and diesel.
Mr Addo-Yobo gave the assurance that construction works on the storage tanks would be completed by the end of this year.
He gave the assurance that BOST would discharge its duties diligently to ensure that fuel products were always and readily available for the market.

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