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| Photo: Reuters |
*Independente June 11, 2013
Singapore oil trader and shipping tycoon Hin Leong plans to spend up to $3 billion on fuel storage terminals and distribution in Asia, with a third of that tipped for investment in Timor-Leste.
In Timor-Leste, phased investment would begin with 100,000 cubic meters of storage for four products-kerosene, gasoline, jet fuel and asphalt.
“We started supplying oil to Timor, such as kerosene for cooking to homes, in tin cans of 18-25 liters which subsequently grew to 200-litre barel,” Him Leong Chairman O.K. Lim said in an interview with Reuters last week.
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