Lub-rref (Bangladesh) on April 2017 has signed a deal with Western Marine Services to set up a tank terminal of one hundred thousand metric tonnes capacity along with a berth operating jetty across the river Karnaphuli in Chittagong.
This facility will be one of the biggest of tank terminal facility in Bangladesh.
The terminal will be treated as an independent storage terminal where customers can store and transship several types of petroleum oils, fuels, and chemicals, says a statement by Western Marine.
In this regard, Abu Md Fazle Rashid, managing director of Western Marine Services, signed a deal with Mohammed Yousuf, managing director of Lub-rref (Bangladesh), at a programme on April 12, 2017.
The tank terminal and jetty will be constructed as per API-650 code and state-of-the-art green and safe technology will be adopted in the operation, Western Marine said in the statement.
The jetty will be capable of berthing 10,000-15,000 tonnes capacity marine vessels having both land and river connectivity for storage, loading, and unloading of petroleum and chemical products.
It is expected to the project will optimize the utilisation of riverside land and further enhance the country’s fuel and oil storage capacity.
It will create a balance between supply and demand for fuel and oil trade and save substantial foreign exchange, says Mohammed Yousuf.
The tank terminal facility will help reduce the cost of working capital for those who are currently importing in small scale and paying instant duty and taxes, he said also.
Other high officials and distinguished guests were also present.