Latest news with #Ndola
Reuters
21-07-2025
- Business
- Reuters
Zambia plans 60,000 barrels per day oil refinery in copperbelt
LUSAKA, July 21 (Reuters) - Zambia's government has signed an agreement that paves the way for the development of a $1.1 billion crude oil refinery and energy complex in Ndola in the country's copperbelt, it said on Monday. The planned facility will process about 60,000 barrels per day of crude oil, providing enough refined products to satisfy the Southern African nation's entire current fuel demand and potentially allowing for future exports to neighbouring countries, a government statement said. It will save the nation millions of dollars annually in fuel imports once complete, the statement added. Officials hope construction will start in the third quarter of 2025, with a first phase of commercial operations planned for 2026. The agreement was between Zambia's Industrial Development Corporation and Fujian Xiang Xin Corporation of China. An IDC spokesperson told Reuters the refinery would source crude from the Middle East and that it would be imported through the Tanzanian port of Dar es Salaam. As well as fuel production, the planned energy complex will include units for liquefied petroleum gas bottling, bitumen production, lubricants blending and a 130-megawatt power plant, Zambia's government said.
Bloomberg
21-07-2025
- Business
- Bloomberg
Zambia Plans $1.1 Billion Oil Refinery With Fujian Xiang Xin
Zambia's state-owned Industrial Development Corp. signed a memorandum of understanding with Fujian Xiang Xin Corp. to develop an oil refinery that will process about 60,000 barrels a day. The $1.1 billion project will be in Ndola, Copperbelt province, the IDC said in a statement Monday.
The Herald
06-06-2025
- Politics
- The Herald
‘A checkered legacy'': Zambia's former president Edgar Lungu dies aged 68
Former Zambian president Edgar Lungu died on Thursday at the age of 68, six months after an attempted return to politics was thwarted by a court ruling that he could not run for office again. Lungu was the sixth president of the Southern African nation and held office from 2015 to 2021, when he lost an election to long-time opposition leader President Hakainde Hichilema. He was praised during his tenure for a massive road-building programme, but also ran Zambia's finances deeply into the red. The country defaulted on its international debt in 2020, precipitating his election loss. Lungu died on Thursday morning at a medical centre in Pretoria, where he had been receiving specialised treatment, his political party, the Patriotic Front, said in a statement on social media. The party also posted a video on social media of Lungu's daughter Tasila Lungu, a member of Zambia's parliament, announcing his death. "My father had been under medical supervision in recent weeks. The condition was managed with dignity and privacy," she said. Lungu suffered from a rare disorder that caused a narrowing of the food pipe, for which he had been treated in SA before. Shortly after he took office in 2015 he fell ill and underwent a procedure in SA which the presidency said at the time was not available in Zambia. Lungu was born on November 11 1956, in Ndola in the Zambian copper belt. A lawyer by training, he served as justice and defence minister under former president Michael Sata before taking over the presidency when Sata died in 2015. After taking office Lungu quickly embarked on legislative reforms which were seen as progressive, including amending the constitution to reduce the power of the president. He won a presidential election in 2016 that gave him a five-year term in office. But shortly before it ended he tried and failed to reverse the constitutional changes he had made. "The legacy of Edgar Lungu is a checkered," said political analyst Lee Habasonda at the University of Zambia.
