PF to sell Indeni refinery

PF to sell Indeni refinery

After selling ZNBC, FINDECO House and INDECO the PF has resolved to sell Indeni Petroleum Refinery Limited to the Chinese Investors.

The PF government has approved the sale of the majority shareholding to foreign Chinese firm.

President Lungu in November traveled to Tanzania in a bid to convince President John Magufuli to sell the TAZAMA Oil pipeline together with Indeni refinery.

But President Magufuli has refused to entertain the privatization of the pipeline.

After failing to secure a 1.5 billion IMF loan Finance Minister Felix Mutati is spearheading the sale of Indeni.

In 2009, the Zambian government bought Total’S 50% stake in the refinery to become its sole owner.

Indeni processes crude pumped through the 1,060-mile Tazama pipeline from the Tanzanian port city of Dar es Salaam.

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