STC Set to Save Rs 900 Million with Landmark LPG Deal

State Trading Corporation (STC) is set to save over 900 million Mauritian rupees, approximately £16 million, by purchasing liquefied petroleum gas (LPG) storage tanks from Singapore-based company, Petredec. The deal, valued at 1.4 billion Mauritian rupees (£25 million), is expected to be finalised by the end of September.

The STC currently leases the port-based facilities, which have a capacity of 70,000 tonnes, from Petredec at a cost of 2.3 billion rupees over a five-year period.

By acquiring the tanks, the state-owned corporation will eliminate this lease expense, resulting in the significant savings over the same timeframe.

Officials have described the move as a strategic decision aimed at both reducing company costs and securing the supply of household gas for hundreds of thousands of Mauritian families.

Petredec, a major global player in the LPG transport and distribution sector, has operated in Mauritius for more than ten years, managing the country’s main imported gas storage facilities.

Source: Defi Media