Nocma fuel storage expansion project to complete in 2024
The National Oil Company of Malawi (Nocma) has completed paperwork for the construction of fuel storage reserves in the three major cities of Blantyre, Lilongwe and Mzuzu, officials disclosed Wednesday.
This is an expansion project to cost the oil company K18 billion to commence this October and is expected to be completed in December 2024.
Speaking today when Minister of Energy Ibrahim Matola toured Nocma fuel reserves in Mzuzu, Nocma Acting Chief Executive Officer Hellen Buluma said government has already given them a go ahead to borrow money for the project.
“We can say the project has started because the project design was completed, now we are looking for contractors as funds for the project. We will need K18 billion and some donors have already shown interest to fund the project. Government has also supported us by approving us to borrow funds for the project,” Buluma said.
She added that currently fuel reserves, stock up to 60 million litres of fuel but after the project is completed, stocks will be doubled, ably keeping the country afloat for six months.
While describing fuel as a ‘political commodity’ Minister Matola said Malawians should not panic, saying the country has enough fuel.
“We have 5 million litres of petrol and the same diesel in Mzuzu reserves. The planned constructed reserves will also have similar storage this means; the region will have enough feel to cater for over 90 days. This is what we want,” Matola said.
Mzuzu Nocma fuel reserves were constructed in 2015 and officially opened in 2017 and distribute fuel to almost all filling stations in the Northern Region.