The ministers of Hydrocarbons, Finance and Special Economic Zones signed on November 24 in Brazzaville, with the Chinese company Beijing Fortune Dingheng Investment, the investment agreement for the construction of a refinery in the special economic zone (ZES) of Black Point.
With a nominal refining capacity of 2.5 million tonnes per year, this refinery should be operational by 2023. It aims to meet the growing demand not only from the Republic of Congo, but also from the sub-region. region in finished petroleum products such as gasoline and diesel, liquefied petroleum gases, light fuel oils and kerosene.
“Ultimately, the goal is to launch the petrochemical industry, which will further enhance the value of SEZs and diversify the Congolese economy. Our company is responsible for providing investment and construction of the refinery without financial guarantees from Congo, ”company representative Sen Shao said, adding that in the future, refining capacity may increase as needed.
According to the latter, the project provides for continuous technical and vocational training for Congolese staff, in order to enable them to access the positions of managers, supervisors, engineers and technicians.
For the Minister of Hydrocarbons, Jean-Marc Thystère Tchicaya, this project aims to create added value by locally transforming crude oil from Congo into finished products, thus making it possible to increase the volumes of finished petroleum products, in addition to those of Congolese refining.
Besides the end of fuel shortages, Jean-Marc Thystére Tchicaya stressed that this refinery will create direct and indirect jobs and then increase the volume of petroleum products for export. An environmental and social management plan will be put in place as soon as the convention enters into force, he reassured.
In view of the importance of this project and the commitments of each party, this investment agreement will be subject to the approval of the Congolese parliament.
Let us recall that the Congo already has a refinery, “La Congolaise de raffinerie”, whose main activity is the refining of crude. It ensures the energy security of the country by supplying approximately 70% of its needs in finished products. Its processing capacity is one million tonnes per year.