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Oiltanking GmbH has announced that it has reached an agreement for the purchase of a stake in Galana Mozambique Ltd. The transaction gives Oiltanking an indirect shareholding in two terminal projects for the storage and handling of bulk petroleum and chemical products in the ports of Matola and Beira.

The terminal in Matola is currently under construction and is due to be operational in the second quarter of 2016. Its initial capacity will be 51,000 cubic metres with land available for further development.

The terminal has access to a jetty with a draft of 11 meters. In addition, the terminal will be equipped with rail- and truck-loading facilities to serve southern Mozambique and neighbouring countries like Swaziland, Zimbabwe, Botswana, and the northern provinces of South Africa.

Another terminal is slated to be built in Beira, located centrally along the Mozambican coast. The terminal, which is currently at the development stage, will facilitate imports into the central part of Mozambique, Zimbabwe, Malawi, Zambia and the Democratic Republic of Congo.

Following the acquisition, which is expected to be completed by mid- December 2015, Oiltanking says it will advance the development and construction of the terminal in Matola. After completion, the terminal is to be operated by Oiltanking and branded as Oiltanking Mozambique.

"Mozambique is one of the main transit hubs for petroleum products on Africa's east coast. The present transaction will further strengthen Oiltanking's presence in Africa and enhance its ability to serve new market segments on the east coast of the continent," Oiltanking said.

Galana Mozambique Ltd. is a Mauritius company and a subsidiary of the Galana Group, a privately-owned group of companies specializing in trading, shipping, terminal storage and distribution of refined petroleum products in East and Southern Africa, as well as the Indian Ocean Islands.

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics.

Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. It has an overall storage capacity of 19 million cubic metres.