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Govt seeking partner for IOR

 

Government is looking for a strategic partner to invest in Indeni Oil Refinery in order to improve productivity.

 

Minister of Energy David Mabumba says Indeni needs about 600 million dollars to improve its production.

 

And Mr. Mabumba says government will invest about 575 million dollars in Tazama.

 

He said the funds will be invested in 4 strategic projects such as tanks, pump stations and also expand pipes from 8- 12 inches in order to increase volume.

 

Mr. Mabumba was speaking when he addressed workers at Indeni Oil refinery in Ndola.

 

And Mr. MabumbA has assured the workers at Indeni that no one will lose their jobs even as government engages an equity partner.

 

Meanwhile, Indeni Board Chairperson Yamfwa Mukanga said Indeni will by first week of January have a new Managing Director.

 

Mr. Mukanga said interviews have already been conducted and that very soon a new MD will be announced.

 

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