Signing of fuel trading agreement with Kepu Trading

May 11, 2006
Author: P&S

SMIT Amandla signs fuel trading agreement with Kepu Trading CAPE TOWN 11 May 2006: SMIT Amandla Marine (Pty) Ltd is delighted to announce the finalisation of a marine fuel purchase agreement with Kepu Trading (Pty) Ltd (owned by Calulo Investments) worth some R30 million rand annually. The agreement, signed at SMIT Amandla Marine offices in Cape Town today by Executive Chairman of Calulo Investments Mr Mkhuseli Faku and SMIT Amandla Marine Managing Director Mr Paul Maclons, is for the purchase of marine fuel (gasoil and bunkers) for SMIT Amandla's owned and managed vessels and includes fuel procurement for the Department of Environmental Affairs & Tourism's fleet of patrol, supply and research vessels - managed by SMIT Amandla Marine.
 

Mkhuseli Faku (left) and Paul Maclon
 
The agreement is in line with SMIT Amandla Marine's stated preferential procurement objectives and, as fuel is a major expense, contributes greatly to that company's contribution to Broad Based Black Economic Empowerment. SMIT Amandla Marine is a 30 percent black-owned specialist marine services company employing some 550 South Africans who have a vested interest in the company's success by virtue of their status as beneficiaries of the SMIT Amandla Marine Employee Trust, which owns 12 percent of SMIT Amandla. Kepu Trading (Pty) Ltd is a leading black-owned, international petrochemicals trading company, with interests in the trading and supply of crude oil and refined petroleum products and is owned by Calulo Investments - a black-owned and managed investment company aiming to give effect to the meaningful participation of black South Africans in the energy and minerals sector. The fuel supply agreement becomes effective on 1 June 2006.