Govt needs US$800 million to refurbish Indeni Oil plant

David Mabumba

Energy Minister David Mabumba says government requires about US$800 million to refurbish the Indeni Oil refining plant in Ndola.

The Energy Minister has also rubbished media reports purporting that government has sold Indeni Oil Company.

Mr. Mabumba has told Journalists in Lusaka that the tendering process for an investor to partner with government in the process is on.

Mr. Mabumba is therefore calling on the private sector to showcase their capabilities in oil refinery if they ought to partner with government.

He says what government is looking for is viable investors to work with to give the oil refinery plant a facelift.

Meanwhile, Mr. Mabumba has stated that government intends to come up with an online mechanism that will monitor all oil stocks that will be getting into the country by private companies.

He says this will prevent oil marketing companies from forming cartels that will disadvantage government in the system.