Tanzania International Petroleum Reserves Limited (TIPER) will invest USD11 million to increase its fuel storage capacity from 141,000 cubic metres to 213,200 cubic metres.
The investment will also increase operational efficiency.
According to TIPER Managing Director Daniel Belair the overall objective is to reach a capacity of 313,200 cubic metres in the near future, to meet the sustainable growth of fuel products.
Tiper is a 50/50 joint venture between Oryx Energies and the Government of Tanzania.
It is a former refinery commissioned in 1969 by the Tanzania Petroleum Development Corporation (TPDC) and the General Italian Oil Company (AGIP).
It has since been turned into a modern tank farm and has become one of the largest bulk import and storage sites in sub-Saharan Africa.