Oil Sector Growth Prompts Marseilles-Fos Investments

Oiltanking Mediaco Marseille has confirmed plans to construct $294.5m refined products depot at the Port of Marseilles Authority’s Fos oil terminal. With a first phase due on stream in 2010, the 800,00 cu m facility offers additional throughput potential of six million tons a year at Marseilles-Fos – already the world’s third biggest petroleum port – reinforcing its Mediterranean hub role in refined products trades.

The partners in the new company are Oiltanking, a subsidiary of Hamburg’s Marquard & Bahls, and Marseilles-based Mediaco. Oiltanking is said to be the world’s second largest independent tank farm operator, with 73 storage terminals in 21 countries, while Mediaco is the leading company of its kind in France, with a string of storage terminals including a Marseilles depot for oil and non-hazardous chemical products. Their joint project will be located on an 18-hectare site in the Cavaou zone at Fos.