The land rights contract for the land where the Cabinda Refinery will be built was signed on Tuesday by the provincial governor of Cabinda, Eugénio Laborinho and by the chief executive of Sonaref, of the Sonangol group, Joaquim Kiteculo, according to the Angolan press.
The refinery, to be built on the Malembo plain in an area of about 313 hectares, will have a processing capacity of 60,000 barrels of oil per day for the production of diesel, gasoline, fuel oil and Jet A1 and will manage 1,000 direct jobs in the first phase.
The provincial governor of Cabinda said that signing this contract was very important for the province and recalled that the concession granted to Sonaref comes under a partnership with United Shine, which will take on the financing costs.
Joaquim Kiteculo said that the first step in the construction of the refinery will be the preparation of infrastructure, which is expected to take about seven to eight months, with the start of operations scheduled for the second half of 2022.
The construction of the Cabinda refinery is part of Sonangol’s priorities and is included the National Development Plan under the government’s strategy to reduce the cost of importing derivatives, and its estimated cost is US$2 billion, to be financed by Russian bank VTB. (Macauhub)