Seven firms bid to buy Zambia’s oil refinery

Port Harcourt Refinery
Port Harcourt Refinery

Seven firms have submitted bids to buy majority stake in Zambia’s sole 24,000 barrels per day Indeni Petroleum Refinery, an executive at the agency handling the bidding said on Saturday.

Zambia Development Agency (ZDA) procurement specialist Mwila Kapita said Glencore Energy UK Ltd, Vitol SA, China Petroleum Technology and Development Corporation and Philia Trading were among the firms that had submitted bids.

The others are Joint Stock Company Global Security of Russia, Sahara Energy Resources Limited and a consortium of Beijing Huiersanji Green Chem Company Limited and AVIC International Holding.

Zambia is looking for a strategic partner to work with Indeni Petroleum Refinery, built in 1973.

The oil company is currently 100 per cent owned by the state-controlled Industrial Development Corporation (IDC) Limited.

(Reuters/NAN)

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