Africa News

The increase comes despite tight industry competition and a fall of about 5.6% in national consumption of fuel products, the company says.

Transnet National Ports Authority has awarded the contract to fund, construct and operate the proposed facility to Oil Tanking Grindrod Calulo Holdings.

The state corporation has signed a Kshs 1.7 billion ($16.5 million) agreement with Southern Engineering Company (SECO).

The company has finalised the sale of its 20% interest for a total amount of $250 million.

The Minister of Labour, Industrial Relations, Employment and Training, Soodesh S. Callichurn, says young Mauritians can eventually replace foreigners currently working in the local bunkering sector.

The new facility in Kisumu, Kenya, is expected play a key role in integrating marine fuel distribution in the region.

The 13.5 million litre capacity facility costs $15 million and is the largest in the country.

The capture of the vessel and 10 crewmembers follows just a week after the release of a Somali dhow by pirates.

Earlier reports had indicated that pirates had been holding seven crewmembers hostage onboard the vessel, which is understood to be a Somali dhow operating out of Bosasso.