$150 million fuel storage complex to create 300 jobs

MEDIA RELEASE

24 September 2013

A $150 million fuel storage complex is to be built at North Geelong.

It will include nine bulk liquid storage tanks with the capacity to hold 205,000 cubic metres of unleaded petrol, jet fuel and diesel.

More than 300 jobs will be created during the construction period.

Terminals Pty Ltd, Australia's leading bulk liquid storage company, announced the expansion today. The complex will be located adjacent to its current Wharf Road site.

The new tanks will service the Geelong and Victorian fuel and transport sectors and complement Terminals' existing tanks, which store raw materials for the agriculture, aviation and manufacturing industries.

The company has made a planning application to the City of Greater Geelong.

Construction of the tanks is expected to begin next year and will take five years to complete.

Managing director of Terminals, George Horman, said the expansion would further strengthen Geelong's position as a transport hub servicing southern and eastern Australia.

Terminals currently has 31 tanks on site with a capacity of 77,000 cubic metres.

The expansion will mean an additional 50 ships will visit the Port of Geelong annually and create an extra 250 truck movements a week through the port.

"Having a ready supply of raw materials will also attract industry to the Geelong area," Mr Horman said.

Mr Horman said that a reduction in crude oil from Bass Strait and a decrease in Australian petroleum refining capacity has required increased importation of fuels.

"With Shell's recent announcement to sell or turn their Geelong refinery into an import terminal there is a need to have an import fuel terminal to service the Geelong and Victorian markets," he said.

Terminals has been operating from its north Geelong site since 1973. Its Community Engagement Group has distributed more than $32,000 in grants to local North Geelong schools and community organisations in recent years.