In December 2013 GuarantCo signed its first deal in Ghana, providing a GHC 12m guarantee to Standard Chartered Bank in order to support the construction and operation of an LPG loading and storage terminal in Atuabo, Ghana.
The terminal is to provide key supporting infrastructure for domestic LPG to be produced by the Government owned Atuabo gas processing plant. Quantum Terminals, part of an oil & gas trading group operating in Ghana, required both hard and local currency financing for the project in order better match its revenue profile.
Quantum Oil Terminal Limited says its US$8million project financing facility from the International Finance Corporation (IFC) will help address storage constraints in the petroleum products distribution value chain and reduce shortages in the country. -