Zambia short-lists Sahara Energy for stake in oil refinery

refineries - NUPENG

Zambia has short-listed five companies including Sahara Energy Resources Ltd. and Britain’s Glencore Energy Ltd. to buy a majority stake in its only oil refinery, a state-owned firm said on Monday.

The government-owned Industrial Development Corporation (IDC) has said it wants a strong strategic equity partner that will improve the production capacity of Indeni Oil Refinery to a level that will meet the nation’s future petroleum demand.

The IDC said in a statement the short-listed firm will now be asked to submit technical proposals on their bids.

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Agency Report