The National Energy Regulator of South Africa (NERSA) has approved the second amendment to Island View Storage (Pty) Ltd’s combined licence for its storage facility and loading operations in Richards Bay. The decision was made during NERSA’s regulatory meeting on 29 May 2025.
The amendment modifies the conditions of the combined licence (Licence Number PPL.sf.lf.F3/323/2017) held by Island View Storage (Pty) Ltd, which operates under the trading name Bidvest Tank Terminals (BTT). The approval authorises the addition of two new diesel storage tanks to the facility’s licensed operations.
Each tank features a design capacity of 15,000 cubic meters, bringing the combined additional storage capacity to 30,000 cubic meters. The tanks are currently under construction, with completion anticipated for June 2025. The amendment also incorporates an updated site layout reflecting the expanded storage infrastructure.
NERSA initially licensed the construction of these storage tanks on 10 April 2024. With the construction phase nearing completion, the regulatory approval enables the integration of the new tanks and auxiliary equipment into the licensed operation’s regulatory asset base.
The expansion responds directly to customer demand, with the additional storage capacity being developed following specific customer requests for increased facility capacity at the Richards Bay location.
The regulatory framework for BTT’s Richards Bay operations includes approved tariffs that NERSA established on 6 November 2024. These tariffs govern both storage and loading facility services and remain effective from 6 November 2024 through 30 June 2027.
The current tariff structure will continue until NERSA approves new rates for BTT’s storage and loading facilities, in accordance with section 28(5)(b) of the Petroleum Pipelines Act, 2003 (Act No. 60 of 2003).
The licence amendment represents a significant expansion of fuel storage infrastructure in Richards Bay, one of South Africa’s key industrial and logistics hubs. The additional diesel storage capacity enhances the facility’s ability to serve the regional energy supply chain and meet growing market demand for petroleum product storage and handling services.
For more information visit www.nersa.org.za
