The eThekwini Municipality has signed a partnership with Transnet SOC Ltd, Energex Asphalt and Fuel Trading (Pty) Ltd, to establish a bitumen storage facility at Maydon Wharf, Durban Port.
This is a 15 to 25 year lease agreement.
The City made public its move, after its Economic Development and Planning Committee approved this agreement last week, on the 20 November.
The deal aims to address South Africa’s critical bitumen shortage, caused by reduced local refining capacity.
It is valued at R260 million.
The storage facility will create 40 jobs in total.
Picture: Transnet