Uganda: Essar In Negotiations on Refinery
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Monday, 12 December 2011 |
Essar is negotiating with the Government of Uganda with a view to setting up a refinery, the company has confirmed. Chief Executive Officer Lalit Kumar Gupta said that a recent find made the construction of a refinery – a long-standing aim of the country’s government – a viable project. "There is a big oil find in Uganda, and we believe that if this materialises there is a need for a refinery to utilize that crude oil economically and that is what we have suggested to the government," he said.
The refinery could have a capacity of between five million and 7.5 million tons per year, added Gupta. Essar already holds a foothold in Africa through its 50% stake in a 80,000 bpd facility in Kenya. The Kenyan Government owns the other hald of the venture.
PetrolWorld 12122011
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