Mozambique: Oilmoz secures funding for refinery feasibility study

19 March 2009

Maputo, Mozambique, 19 March – Mozambican oil company Oilmoz – Investimentos e Participações said Wednesday in Maputo it had secured funding of US$50 million to pay for environmental and economic feasibility studies for construction of a refinery in Maputo by 2013.

The chairman of Oilmoz and former Mozambican Foreign Affairs Minister, Leonardo Simão, told news agency APA that the US$50 million would pay for feasibility studies as well as for construction of housing for staff and water and electricity supplies to the refinery.

The refinery, with a capacity to process 350,000 barrels of oil per day has already been approved by the government and is one of two refineries that have been projected for Mozambique since the country’s previous refinery shut down 20 years ago.

“If the government ahs approved the studies, we can start building at the end of the year or at the beginning of 2010 in order to meet the 2013 deadline for the refinery to start operating,” Simao said.

Oilmoz recently announced it would partner Shell Global Solutions International B.V., a subsidiary of Royal Dutch Shell Plc, for the study and project for the refinery. (macauhub)