Maputo, Mozambique — 04 October 2013 – International oil giant BP plans to invest US$85 million in Mozambique over the next five years on new projects and modernising facilities in the country, says the company’s director for Southern Africa, Thandi Orleyn.

“The major proportion of the investment, US$75 million, will be spent on modernisation of infrastructure in order to improve the safety and reliability of shipments to the port terminals of Nacala, Beira and Matola,” he was quoted as saying by Macauhub News Agency.

Orleyn added that “the work will make it possible to increase our ability to meet domestic and regional demand.” He said that BP would use the remaining US$10 million to modernise its facilities at two airports in Mozambique.

BP currently has 18% of Mozambique’s fuel market, with the sale of 240 million litres of fuel per year.

Source: Macauhub News Agency. For more information, click here.