Foreign fuel retail and storage firm to set up in Thilawa

21 November 2015
Foreign fuel retail and storage firm to set up in Thilawa
Tanker at service station, Puerto Rico Photo: Puma Energy

Puma Energy International, the fuel retail and storage company spun off from commodity trader Trafigura Pte Ltd., is building a US$100 million facility in Myanmar and seeking other deals in the country that they recognize could open to more foreign investment after elections this month, Bloomberg reports on November 19.
The storage tank facilities for bitumen and petroleum products at Thilawa Port, 23 kilometers (14 miles) south of the capital, Yangon, will have a capacity of about 97,000 cubic metres. 
Based in Singapore and with major operations in Geneva, Puma is the first foreign company granted permission to build oil storage facilities in Myanmar, Chief Financial Officer Denis Chazarain said in an interview with Bloomberg.