PetroSA may have attracted an investor to its Mthombo project near Coega. The company said it will partner with Chinese firm Sinopec to get the 400,000 bpd refining project off the ground.

The project has been on PetroSA’s books for quite a long time but due to its estimated cost, between $9 and $10 billion, it has stalled.

"The agreement defines the process by which PetroSA and Sinopec will shape the business case for Project Mthombo, the initiative to construct a world-class crude oil refinery at Port Elizabeth's Coega Industrial Development Zone," PetroSA said.

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