Commercial fuel lines secured after Caltex confirms expansion
Caltex, Australia’s only listed refiner-marketer, has confirmed an $80 million upgrade to its fuel storage and expansion plans in South Australia. Caltex will aim to boost supply reliability throughout the state in a bid to support the state’s booming resources sector.
The deal would see Terminals Pty Ltd construct a storage facility that would double that of Caltex’s pre-existing operations in the state.
"This is a demonstration of our commitment to ensuring greater fuel supply reliability for Adelaide and supply continuity for Caltex's growing list of commercial customers across the state," Caltex Australia MD and CEO Julian Segal said.
"This project is part of Caltex's overall commitment to develop infrastructure and capability to meet Australia's growing transport, agricultural and mining fuel needs."
The plans will see Caltex become a foundation customer of the new storage and distribution terminal currently being constructed in Adelaide’s Outer Harbor which will hold unleaded grades 91, 95 and 98 in addition to diesel, biodiesel and ethanol.
Caltex has cited emerging bottlenecks in Inner Harbour as a driving factor behind their investment in the $80 million facility at Outer Harbor. The upgrade will see 85 million litres of new storage capacity for South Australian fuel supply generated upon completion of the first stage in 2013, with capacity expected to increase to 135 by the completion of the project.