The government of Angola has begun holding roadshows for construction companies and investors ahead of the launch of an international tender for the Soyo oil refinery, near the country’s northern border with the Democratic Republic of Congo.
The first presentation was held in Luanda on 10 October, and a second will be staged in Dubai on 22 October, two days before the official launch of the competition to build the plant. Â
The government is looking for a consortium to finance, build and operate a refinery capable of processing 100,000 barrels of crude a day, and to complete the project by 2023.
The move is part of a plan to enable Angola to capture more value from its offshore oil reserves, and cut its petrol import bill.
At present it imports 80% of its petrol at a cost of about €160m a month – a drain on the country’s foreign currency reserves.
The aim is to build three refineries, at Soyo, Cabinda and Lobito, and to refurbish the Luanda facility, which dates from the 1960s.
The government announced in 2015 that it was teaming up with a consortium led by China Tianchen Engineering to build the Soyo plant. This project, which was billed as a $14bn, 400,000 bpd scheme, was later put on hold.
Image: Soyo is at the outlet of the Zaire river (Dreamstime)