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South Africa eyes BRICS partners to build new $10 billion refinery
November 21, 2017 / 10:06 AM / 23 days ago

South Africa eyes BRICS partners to build new $10 billion refinery

CAPE TOWN, Nov 21 (Reuters) - South Africa is looking to the national oil companies of its BRICS partners to help build a new 400,000 barrel per day refinery that will be structured by senior debt and equity, energy minister David Mahlobo told parliament on Tuesday.

“South Africa is at a tipping point regarding its refining capabilities,” Mahlobo said, adding that the cost of the new refinery was estimated at $10 billion in 2010. (Reporting by Wendell Roelf; Editing by James Macharia)

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