BOOT Agreement

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Transnet National Ports Authority (TNPA) has appointed Oiltanking Grindrod Calulo Holdings to plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura.

This Build, Operate and Transfer (BOOT) agreement was concluded in December 2016, after an open tender process.

Construction is due to commence in the 4th quarter of 2017, with commissioning planned for the 3rd quarter of 2019.

Phase 1 of the liquid bulk facility will provide approximately 150 000cbm of storage capacity for refined petroleum products and will replace the tanks currently in use in Port Elizabeth, which will be decommissioned and the land redeveloped.

Future phases will provide for an additional 550 000cbm of storage capacity and handling. The new modern facility will service the oil majors, new entrants into the South African oil industry as well as international traders, all supporting the local shipping industry.

Oiltanking Grindrod Calulo, a majority South African owned level 1 BBBEE company, is an independent bulk liquid storage provider in South Africa. The Ngqura facility is a unique opportunity for the joint venture partners as well as for the region.

For Oiltanking, it will be its first holding in a South African fuel terminal, whereas for Calulo, being involved in all aspects of the oil supply chain, it will be its first clean products terminal. For Grindrod, the Ngqura liquid storage facility provides diversification into fuel storage and handling and aligns with its coastal tanker shipping through Unicorn Tankers.

Oiltanking Grindrod Calulo Holdings

Dirk Exalto, Tel: (021) 401-5162

Email: dirk.exalto@oiltanking.com,

www.oiltanking.com

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