Zambia: Investors eye oil refinery

On October 31st, 2010, posted in: News, newsletter, Nov 2010 News by

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ENERGY and Water Development Minister Kenneth Konga yesterday told Parliament that several foreign investors have expressed interest in setting oil refinery companies in the various parts of Zambia.

Mr Konga said the Government was encouraging Public Private Partnerships (PPP) in the various sectors of the economy and the oil industry was one of them.

He said this in response to a supplementary question by Kankoyo MP, Percy Chanda (PF) who sought to know how much it would cost to rehabilitate the Indeni Oil Refinery Company, which Mr Konga said the undertaking was estimated at U$2 million.

“We are alive to the fact that rehabilitating the Indeni Oil Refinery Company is a costly exercise that is why we are encouraging the PPP initiative. Already several foreign investors have already shown interest in this field,” Mr Konga said.

Earlier, in his ministerial statement to the House on the shutting down of Indeni, Mr Konga assured the nation that there were sufficient fuel stocks to last during the routine closure of the refinery and as such there was no need for motorists to panic buy fuel.

Source: times.co.zm/                                      Image:blog kir

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