28th March 2023Park Pty Ltd Now Offering Storage Capacity
FOR IMMEDIATE RELEASE — March 28, 2023
Park Pty Ltd is now offering up to 30 million litres of storage capacity for strategic fuel reserve to assist fuel importers in meeting their 1st July 2023 Minimum Stockholding Obligations (MSO).
As part of the Commonwealth Government’s $260 million “Boosting Australia’s Diesel Storage” program (which aims to build around 780 million litres of diesel storage across the country) Park and the Commonwealth Government are jointly funding an additional 60 million litres of storage capacity across Park’s direct import terminals in Newcastle and Port Kembla. These terminals are strategically located near key transport routes and major population centers in New South Wales.
- By the end of 2023 Park will offer additional storage capacity by constructing a new 32 million litre tank in Newcastle.
- By mid-2024 Park will offer additional storage capacity by constructing a new 28 million litre tank in Port Kembla.
The MSO requires Australia's major fuel importers and refineries to hold baseline level stocks of:
With the looming deadline for fuel importers to meet their MSO requirements Park has been approached by several interested parties for storage options.
Brett Fletcher (CEO) is extending this offer to all interested parties and will consider both long and short term tenures, as well as providing stock ticketing options.
For more information and media inquiries please contact Allan Schloeffel
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