Reliance targets Africa logistics with GAPCO stake

04 September 2007 18:05  [Source: ICIS news]

NEW DELHI (ICIS news)--Reliance's acquisition of a majority stake in Gulf Africa Petroleum Corporation (GAPCO) would help it market refinery and liquid petrochemical products in Africa, the oil refiner and petrochemicals maker said on Tuesday.

 

Mauritius-based GAPCO operates large terminal facilities and a retail distribution network in East Africa including terminals at Dar Es Salaam in Tanzania, Mombassa in Kenya and Kampala in Uganda.

 

The company bought the stake through its United Arab Emirates subsidiary, Reliance Industries Middle East, Dmcc. Neither the percentage of the company acquired nor the acquisition price were available.

 

“This will help Reliance establish a natural marketing sink for its refinery products and capture value up to the last mile in the global petroleum value chain,” Reliance said.

By: Naresh Minocha
+65 6780 4359

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