SA's Saldanha Bay oil terminal to get $720 mln upgrade: Zuma - CNBC Africa

SA's Saldanha Bay oil terminal to get $720 mln upgrade: Zuma

Southern Africa

by Reuters 0

President Jacob Zuma said 9.2 billion rand ($720 million) would be spent on the Saldanha Bay oil storage centre. PHOTO: kuduresources.com

South African President Jacob Zuma said on Thursday that 9.2 billion rand ($720 million) would be spent on the Saldanha Bay oil storage centre and terminal with the aim to transform it into an "oil and gas hub."

Zuma made the announcement as he unveiled details about the government's blue print to unlock South Africa's coastal and oceanic economic potential.

Comments