Gemcorp Holdings Limited (GHL) anticipates the first phase of the Cabinda refinery to commence operations in the latter half of 2024, as all necessary resources have been secured.Significant progress has been made in the construction, including the completion of infrastructure and assembly of crucial equipment, enabling the production of various fuel types.The financing for the initial phase, totaling US$473 million, comprises funds from existing partners and project financing led by the Africa Finance Corporation and the African Export-Import Bank, among others.On completion, the first phase will process 30,000 barrels of crude oil daily, meeting .

.

.To read the full NEWS and much more, Subscribe to our Premium Membership Plan.

Already Subscribed? Login Here