Engen invests extra $10 million in Zambia
Engen has invested an extra US$10 million in Engen Petroleum Zambia Limited (EPZL). The South African company made the announcement at a red carpet event on Thursday, 27 November, attended by dignitaries including Zambia's Minister of Commerce, Trade and Industry; the Malaysian Ambassador to Zambia and Zimbabwe; and the South African High Commissioner to Zambia.
Engen's extended investment comprises a fuel storage depot, warehouse facility and administrative centre. Together these facilities will allow the company to meet minimum stock-holding targets imposed by the Zambian government, and help it access remote areas of Zambia.
The company's CEO and MD Rashid Yusof said Engen is an African company, “Our goal is to be a Champion in Africa's ‘downstream' petroleum industries by 2016, in terms of our EPIC 2016 strategy.”
“Zambia is an integral part of our strategy in Africa,” Yusof continued.
Engen has been active in the Zambia downstream petroleum market for a decade, distributing and marketing premium refined petroleum products, and running a chain of convenience shops and eateries.
The depot will operate with high levels of safety and environmental principles, with secure product containment and spills management; reuse of ‘grey' water; energy saving lighting; and world-class fire-fighting equipment.
