Morocco: Winxo emerges with major fuel storage project

Compagnie Marocaine des Hydrocarbures (CMH) has announced a minimum MD3bn ($362m) expansion plan, in the process taking a new name – Winxo – and including an estimated $100m-$120m project to build a petroleum products storage and distribution centre at Jorf Lasfar. Winxo president Hassan Agzenaï said his Holding Hogespar would finance 30%-40% of the programme from its own funds. The new Jorf Lasfar terminal on the Atlantic coast, with 600,000m3 storage capacity on a 22ha site, will add more than 50% of Morocco’s current products imports storage capacity, the company says. Some of this will eventually be exported, in line with Morocco’s policy of building export markets in north-west Africa, although this is not an immediate priority.