Viva Energy Group Limited (the Company) today confirms that it has finalised the terms of the grant agreement in relation to the Federal Government’s Boosting Australia’s Diesel Storage Program, that will see the Company build 90 million litres of new strategic diesel storage at its Geelong Refinery. The grant will cover up to 50 percent of total eligible expenditure up to a maximum of $33.3 million. The total project expenditure is estimated to be between $75-85 million.
Subject to regulatory approvals, construction of the new diesel storage is expected to commence shortly ahead of planned completion by mid-2024, prior to the introduction of stage 2 of the Minimum Stockholding Obligations.
Authorised for release by: the Disclosure Committee of Viva Energy Group Limited
Further enquiries:
Media Enquiries
Michael Cave
T: +61 409 647 910
E: michael.cave@vivaenergy.com.au
Investor Relations
Cameron Sinclair
T: +61 3 8823 4811
E: investors@vivaenergy.com.au
About Viva Energy
Viva Energy is one of Australia’s leading energy companies and supplies approximately a quarter of the country’s liquid fuel requirements. It is the exclusive supplier of high quality Shell fuels and lubricants in Australia through an extensive network of around 1,330 service stations across the country.
Viva Energy owns and operates the strategically located Geelong Refinery in Victoria, and operates bulk fuels, aviation, bitumen, marine, chemicals and lubricants businesses supported by more than 20 terminals and 50 airports and airfields across the country.
www.vivaenergy.com.au