TAF oil inaugurates aviation fuel depot
One of the indigenous oil companies in Ethiopia, TAF Oil Ethiopia, on Tuesday inaugurated an aircraft fuel depot that it built at the Addis Ababa Bole International Airport at a cost of 450 million birr.
Ministers, executives of Ethiopian Airports and other dignitaries attended the inaugural ceremony. Tensae Aklilu founder president of TAF Oil Ethiopia said the construction of three aircraft fuel tankers each with a storage capacity of two million liter of fuel and a fire fighting installation has been undertaken in the past two years at an investment cost of 450 million birr. Tensae said the construction of the modern aviation fuel and firefighting facility has been undertaken in accordance with international aviation safety standard. The firefighting facility has a water tanker that can hold 300,000 liter of water.
TAF Oil Ethiopia has also imported five aircraft fueler trucks at a cost of 100 million birr. “We have built a state-of-the-art facility that can cater to the national carrier as well as other airlines. We are now ready to provide an international standard service to Ethiopian Airlines and other airlines,” Tensae said.
In his key note address Teka Gebreyesus, State Minister of Trade and Industry, said that the construction of the aviation fuel depot would contribute to the development of air transport in the country. Teka said his Ministry would provide the required assistance for the growth of the aviation industry.
Mulu Gebreigzabher, State Minister of Transport, said the new depot will significantly contribute to the growth the aviation sector. Mulu said the Ministry is willing to collaborate with all stakeholders to eliminate bottlenecks that hinder the growth of sector.
TAF Oil has joined Total Ethiopia, Oil Libya and National Oil Company (NOC) which have been providing aviation fuel in Ethiopian airports.
Owners of TAF Oil Ethiopia, as a family business, have been operating gas stations for the past 45 years. In 2012 the family established the oil and lubricants distribution company, TAF Oil Ethiopia, with a registered capital of 56 million birr. The company which began operation with two gas stations has increased the number of the gas stations to 74. According to Tensae, TAF Oil will increase the number of gas station to 105 by end of this year.
The company has increased its capital to 1.3 billion birr and created 3,400 jobs for citizens.
There are 26 oil distribution companies in Ethiopia out of which five are foreign firms. Ethiopia annually imports four million tons of fuel valued at over USD three billion and 17 percent of it is aircraft fuel (JetA1).