Petroleum Africa
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Monday, August 17, 2015
The Zambia Development Agency (ZDA) has issued an investment license aimed at the construction of a new refinery and a pipeline. The investment license issued by the ZDA went to Maysen and Borowski Claymont Joint Venture (MBCJV) and Phoenix Materials and Constructing Company of Zambia, according to local paper Zambia Daily Mail.
The construction of the oil refinery and pipeline has a price tag of around $1.9 billion.
The government has approved the acquisition of a bankable feasibility study and talks with different partners to set up a special purpose vehicle to move the project forward were currently underway.
The construction of the oil refinery was expected to have a capacity to process about 5 million tons of crude oil annually. The potential pipeline will bring crude from Tanzania. The pipeline will be built alongside the 1,800 km Tanzania Zambia Mafuta (TAZAMA) pipeline from Tanzania’s largest city and former capital Dar es Salaam.
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