Business News of Saturday, 12 July 2014

Source: ultimate1069.com

BOST Depot in Kumasi shut down for upgrade

The Bulk Oil Storage and transportation Company Ltd. depot in Kumasi is embarking on an upgrade of its facility to improve efficiency to petroleum consumers in the Ashanti and Brong Ahafo regions.

The oil storage facility currently holds 20% market sale and supplies the Ashanti, Brong Ahafo region and some parts of Eastern region.

The facility has thus been dormant for some nine months now.

Briefing the press on a media tour around the facility, the management admitted that the facility was not running on its full capacity.

Its Corporate Communications Manager, Salifu Nat Acheampong indicated that the facility was currently undergoing a modification of its pipeline, installation of low-position tanks, and automation of its systems.

The Manager of the Kumasi depot, Nicholas Samari was positive the upgrade will help the company work efficiently to reduce production cost.

He also admitted that the facility could not discharge its reserves during the recent fuel shortage after government directed all BOST Depots to release strategic reserves due to ongoing works at the depot.