Zambia has signed a landmark deal to construct a $1.1 billion crude oil refinery and energy complex in Ndola, a major move aimed at boosting the country’s energy independence.
Announced Monday, the project will process around 60,000 barrels of crude oil per day enough to meet the country’s entire current fuel demand and potentially supply neighboring nations in the future.
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The refinery, to be located in Zambia’s Copperbelt province, is expected to drastically reduce the country’s dependence on costly fuel imports and save millions of dollars annually.
Officials say “the project aligns with Zambia’s long-term economic goals by boosting energy security, creating jobs, and strengthening regional trade links. Construction timelines and investors are expected to be detailed in the coming months”.
