Comprising three 170,000 barrel tanks the terminal will be built at Port Bonython in South Australia and is set to start operations by mid-2016.

“The terminal will be the foundation for Mitsubishi to launch a diesel fuel import, sales and distribution business in Australia,” it said in a statement.

Mitsubishi said it expects to see robust growth on the back of increasing demand in energy, resource, transport and industrial sectors.

Analysts