Investigative Reports

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Trafigura Investing $50 Million on Berbera Fuel Storage

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Muse Bihi Abdi, the Somaliland president, today formally set the foundation stone for the construction of new fuel storage tanks in Berbera invested by the Trafigura Company.

The president and his entourage are in Berbera, the Sahel region’s capital, on an official visit for just such task that would significantly improve the nation and its neighbors’ access to avoidable gasoline.

First, Ahmed Ibrahim Abdi, the manager of the Fuel Storage Facility, spoke at the event and discussed the significance of this project for the country. He also touted it as a significant foreign investment that can draw other international companies.

The mayor of the Berbera Municipality – Abdishakur Mohamud Hassan (Ciddin) – and the governor of the Sahil region – Ali Abdi Abdilahi (Ali-case) – both discussed the expansion of the fuel reservoir’s capacity and how this kind of project strengthens the economic value of Berber city to the country.

Hadi Hallouche, who was acting on behave of “Trafigura” the company that puts investment into the new fuel tanks, adulated Somaliland for its collaboration and investment friendly climate, and further underlined that his company is committed to carrying out the task all the way to the finish line.

The Ministers for Finance and Trade Developments, Dr. Sa’ad Ali Shire and Mr. Mohamud Hassan Sa’ad (Saajin), respectively, also praised the Trafigura company’s decision to invest in petroleum storage tanks in Berbera and said that Somaliland will benefit much from this initiative.

Finally, Somaliland president, H.E. Muse Bihi Abdi, said a few remarks at the event by praising the project to increase fuel storage capacity and emphasized that the government will be fully responsible for the security of the company, its personnel, property, and investments

One of the biggest trading and logistics corporations in the world is Trafigura with a revenue over $300 billion

Guest piece first published on SII

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