Petro SA says oil refinery is economically viable.

01 Feb 2016 | Admin Author

Petro SA says the multi-billion rand oil refinery, Mthombo, is economically viable and able to attract investors.

That's because of its high returns and low operational cost per barrel.

In its latest release on Project Mthombo, Petro SA says the refinery, mooted for the Coega IDZ, will be environmentally friendly and flexible to meet current and future fuel specifications.

PetroSA and its Chinese partner, Sinopec have completed a business study for the refinery.

Together with the Industrial Development Corporation, the two companies are now involved with the feasibility studies during which the business case will be strengthened, strategic partners firmed up and the funding strategy confirmed.

(Source: Metro Minute to subscribe mail metminutes@iafrica.com)