TAF Oil outbid several established vendors in the sector to acquire a fuel supply contract for Anbessa City Bus Services Enterprise, Ethiopia estimated to be worth almost 500 million birr.
Anbessa announced the winner of the bid in a letter addressed to TAF on the 29th of March.
The company will supply more than 26 million liters of benzene, Nafta and 500 thousand liters of other lubricants and greases over two years from the signing of the contract according to sources. It is expected that TAF will earn an estimated 484 million birr over this time.
The two companies will sign the final contract sometime next week according to sources.The City Bus Enterprise is waiting for the contract to be drafted to be delivered to TAF for comment before the final signing said Bedilu Assefa, General Manager of Anbessa.
The bid issued by Anbessa City Bus Services was divided into different lots with TAF acquiring 100% of the Nafta and 75% of the lubricants contracts.
TAF will supply its products at the three Anbessa depots located at Gergi, Jemo and Shegole said Damenu Kibret, Head of Public Relations with the company.
TAF Oil officially commenced operations in the Ethiopian oil sector in February of 2011 established at 56 million birr initial investment. The company currently runs 11 gas stations across the country and has constructed a depot with the capacity to hold 500,00 liters of Oil at Welenchiti.
Source: Capital/ The Reporter
