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Sections News Editorial/Opinion Cover Choice Arts & Life Business Politics Sports   Subscription Form Click here         Daily Independent Online.         * Wednesday, June 30, 2004. Oando invests N1b in Onne Tank Farm By Charles okonji Snr Business Correspondent, Lagos Oando Plc has invested N1 billion in the construction of Onne Tank Farm in Port Harcourt, Rivers State, which would enable the company to move over 70 million litres of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) on a monthly basis. The company, which is one of the largest downstream energy groups in Nigeria with retail outlets across West African countries, including Ghana, Togo and Sierra Leone, has earmarked another N750 million to double the capacity of the facility in the first quarter of 2005.   Managing Director of the company, Mr. Wale Tinubu, who disclosed this   during the official commissioning of the facility at Onne, said that the farm, which has a capacity for 30,000 metric tonnes of PMS, was built as a strategic effort of Oando for much participation in the Nigerian downstream oil sector. Tinubu said the ultra-modern facility was built to API 650 standards, stressing that it has four loading bays equipped with electronically controlled truck loading systems, with a loading rate in excess of 120,000 litres per hour. The tank farm, he stated, has bulk and iping facilities capable of supplying the company’s clients’ onshore and offshore operations and was constructed to  comply with the industry’s best practices on Health, Safety and Environmental (HSE) standards. He said: “Some of the facilities at the tank farm include safety standards deployed in the construction. There are  also 600 metric tones water storage, boreholes, diesel operated hydrant pump and deluge sprinkler system on top of the tanks. “Others are quick cupping hydrant heads connected to the wet pipeline network, hydrant foam monitors and landing valve for external intervention at the gate. The tank will bring about quick turnaround of vessels, increase storage facility for products, thereby enhancing stock availability and quick take off to the outlets,” he added. Tinubu explained that the facilities had been licenced by the Department of Petroleum Resources (DPR) to operate in the oil and gas free zone and store PMS, AGO, base fluids and lubricants.       Copyright� 2002. All Rights Reserved Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.dailyindependentng.com e-mail: [email protected]

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