China Zambia Petrochemical Corporation has received its Investment License from the Zambia Development Agency, paving the way for a $1.1 billion crude oil refinery project in Ndola that promises to transform the country’s downstream sector.
The Special Purpose Vehicle, jointly established by the Industrial Development Corporation and Fujian Xiang Xin Corporation, will advance the refinery project as a significant driver of employment generation and economic stability in the region. During the construction phase alone, the refinery will create more than 2,200 jobs. Once operational, it will sustain more than 600 direct and over 2,000 indirect jobs, with comprehensive skills-transfer and certified training programmes designed to build a highly capable local workforce with expertise in advanced petrochemical operations.
Set to begin operations starting next year, the refinery is expected to process three million tonnes of crude oil annually. This quantity will not only surpass Zambia’s national fuel demand but also cover regional export markets, solidifying the country’s energy security and stabilizing fuel supply as Zambia will not have to rely as heavily on the import of refined petroleum products.
The integrated energy complex will gear Zambia’s downstream growth, ranging from LPG bottling and bitumen production to lubricants blending. Additional spillover investments are anticipated in storage infrastructure, rail upgrades, and feedstock supply for manufacturing plastics, fertilisers, synthetic materials, and asphalt. Small and medium enterprises are expected to benefit significantly through opportunities in logistics, maintenance, catering, and specialized support services.
IDC CEO Cornwell Muleya described the license handover as a decisive shift from commitment to execution, calling the project a cornerstone of the country’s industrialization strategy and a timely response to Zambia’s need for affordable, reliable, and locally produced energy.
Huang Tieming, Chairperson of Fujian Xiang Xin Corporation, expressed honor at advancing the project into its implementation phase in partnership with the Government of Zambia through IDC. With more than two decades of industrial experience, the company is committed to deploying advanced engineering technologies that will deliver a world-class refinery for the benefit of the Zambian people and the broader region.
Source: oilreviewafrica.com