Mozambican government seeks investors for construction of refineries

15 August 2011

Maputo, Mozambique, 15 Aug – The Mozambican government is seeking investors to build refineries in the country due to approved projects not getting beyond the design stage, said the country’s energy minister, Salvador Namburete.

Mozambique needs oil refineries in order to reduce the cost of importing fuel, which totals some US$700 million per year.

Cited by Mozambican news agency AIM, Salvador Namburete noted that the government does not have the financial capacity to invest in building the oil refineries, although it is available to provide investors with the necessary incentives and support for a refinery to be built in the country.

“A refinery in Mozambique is a wish and a project that, if it is carried out, will bring the country benefits. Unfortunately campaigns and promotions that have been carried out have still not made it possible to move ahead and there is no agreement with investors,” said the minister, summarising the 7th Coordinating Council of the Energy Ministry, held last week in Namaacha district, Maputo province.

Mozambique has received proposals for large refinery projects that have been approved by the government, which, apparently due to the global financial crisis, have not gone ahead.

These projects are the refineries of Nacala-a-Velha, in the northern province of Nampula, expected to cost US$5 billion and the Oil Moz refinery, in Maputo province, estimated to cost US$8 billion. (macauhub)