POST Online Media Lite Edition



 

Zambia, Angola ink oil pipeline construction deal

Christian Fernsby |
Zambia and Angola have signed an agreement aimed at constructing a pipeline for the transportation of finished petroleum product between the two countries, a government official said on Friday.

Article continues below



Topics: ZAMBIA    ANGOLA   

The 5 billion U.S. dollars agreement will pave way for the construction of a pipeline from the oil-rich Angola to Zambia.

Lawrence Chalungama, Zambia's Ambassador to Angola, said the deal was signed on Thursday by ministers responsible for energy of the two countries, bringing to an end more than 10 years of negotiation process between the two countries.

He said in a release that the pipeline will be developed by the private sector with Angola state-owned petroleum company SONANGOL and Zambia state company Industrial Development Corporation as strategic partners.

"Once completed, Angola-Zambia multi-product petroleum pipeline will transport petrol, diesel, kerosene and gas," he said.

The deal, he said, will go a long way in ensuring that Zambia starts accessing cheaper fuel products, adding that it comes at a time when Angola was developing two refinery plants which will result in surplus fuel products.

Currently, Zambia has a joint pipeline with Tanzania used for the transportation of petroleum products.


What to read next

Zambia launches $1 billion One Belt Chinese investment platform
Zambia trade zone gets $800 million funding
Zambia and China sign $64 million deals