Maritime Hub: Oil Storage Terminal project kickstarted by PM

The Mer Rouge Oil Storage Terminal (MOST) project will propel Mauritius into the next phase of development and will contribute to transforming the country into a full-fledged maritime hub in the years to come, the Prime Minister, Sir Anerood Jugnauth said in his speech at the laying of foundation stone ceremony of the MOST project in Mer Rouge, Port Louis, on Tuesday 27 December.

He recalled that the MOST project is a testimony of the commitment to implement the Government programme 2015-2019 and the Vision 2030 Economic Mission Statement which aim, amongst others, to transform Port Louis into a leading regional petroleum hub, he said in his address.

Sir Anerood Jugnauth underlined the close linkage between the private and the public sectors while highlighting Government’s commitment to facilitate implementation of private-led projects that impact on the economic stature. He also pointed out that all development projects are being fast tracked in a bid to bring Mauritius closer to high league countries.

Speaking about port transformation, the Prime Minister pointed out that the port has embarked on a transformational strategy which comprises the injection of public sector investments of over Rs 8 billion to enable the emergence of a state-of-the-art port infrastructure.

The MOST project forms an integral part in the emergence of Mauritius as a petroleum hub. Bunkering activities coupled with the storage of petroleum products for re-exports to the region remain key components for the development of Mauritius as a petroleum hub, he said.

The MOST project derives from a joint venture between the STC and four international petroleum companies present in Mauritius namely Engen, Indian Oil, Total and Vivo Energy. The petroleum terminal, which will be constructed to the tune of Rs 600 million, will come into operation at the end of 2017.