Headlines
- President Ruto's Vision of Affordable Housing Projects Taking Shape in Kenya
- Ethiopia Receives $720 Million in Funding for Road Construction Project
- $3.24 Billion to be Invested in Tanzania SGR Construction by Spain
- Ksh700 Billion to be Invested to Complete Pending Kenyan Road Projects
- $13.8 Billion Kenya-Ethiopia Railway Construction Plans Resume
- Lake Victoria Basin Project Receives Sh355 Million for Phase II Constructions
- Zanzibar Signs a USD 428 Million Agreement to Expand Pemba Airport
- Tanzania government plans to construct 2000 kilometres of roads in 2023
- Project to Build a Dual Carriageway on Kiambu Road in Kenya
- Kasanga port in Tanzania to expand capacity
Mozambique: Contacts Under Way for Building a Refinery
Maputo - The Mozambican government’s Institute for the Management of State Holdings (IGEPE) is in contact with potential investors interested in building an oil refinery in Mozambique.
IGEPE Chairperson Apolinario Panguene told reporters in Monday “We are thinking about a refinery, and there are already contacts with potential investors”.
But he declined to give any details on the grounds that “we are still in negotiations”.
Currently Mozambique is totally dependent on the import of refined fuels, which costs the country about 700 million US dollars a year. A refinery would reduce these costs substantially.
Fiver years ago, the government approved projects for two refineries. An agreement was signed in 2007 to build a refinery in Nacala-a-Velha, in the northern province of Nampula, which would have cost five billion US dollars.
The company Oilmoz proposed a refinery in the southernmost district of Matutuine, which would cost eight billion dollars, and could produce 350,000 barrels of refined fuels a day.
Neither project has gone ahead so far – apparently because the international financial crisis that began in 2008 made banks reluctant to lend the large sums required.
Currently, the price of a barrel of oil (Brent crude) is 109.18 dollars.
Source : allafrica.com
Posted on : 30 Nov,-0001
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