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Zambia Short-lists Five Firms for Majority Stake in Oil Refinery

Posted by April 16, 2018

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Zambia has short-listed five companies including Britain's Glencore Energy Ltd. and Sahara Energy Resources 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.

Reporting by Chris Mfula

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