Angola: Oil Processing Russian Joint Venture to Construct Refinery in Southern Angola
Russian investors have started construction of a € 10.5 billion refinery in the Angolan province of Namibe, the Portugues Newspaper Diário de Notícias reports.
Luanda/Angola — The project also involves a railway line connecting the railroads of Benguela and Moçâmedes. Construction works are to begin later this year.
The plant is being built in the town of Giraul de Baixo, Moçâmedes municipality, capital of Namibe, on a 1,300 hectare area, by the Russian companies Rail Standard Service and Fortland Consulting Company. The Russian companies have formed a Joint Venture called Namref to undertake this project.
According to Diário de Notícias, Anatoly Kazlov, representative of Russian investors, announced that the project will serve the energy needs of other countries in southern Africa as well. Although Angola is Africa’s largest oil producer (1,7 Million barrels per day according to tradingeconomics), the country has to import refined fuel with a value of approx. € 160 million per day. The new refinery will have a capacity of 400,000 barrels of crude oil per day — representing about a quarter of the country’s production.