The Quantem consortium, which comprises American companies TGT, Quantem, Aurum & Sharp and the Angolan company Atis-Nebest will invest $3.5 million-dollars to build Angola’s third largest oil refinery in Soyo by 2024. Once completed, the refinery is expected to process 100,000 oil barrels per day (bpd).
The investment is a direct result of the established strategic partnership with the United States government, which has played an influential role on eradicating corruption, money laundering, malaria, HIV/AIDS and the COVID-19 pandemic through acceleration of vaccine programs in partnership with U.S. brands.
Angola’s Head of State H.E. Joao Lourenço confirmed the construction of the 100,000-bpd oil refinery during the Annual Gala of the International Foundation for the Conservation of the Environment in Luanda.
U.S. investors are also partnering with EximBank for the development other projects in country, from mobile operators to Angola’s largest solar project, and expanding across other industrial sectors that accelerate economic growth.
Energy Capital & Power will produce an Africa Energy Series: Angola 2022 special report and documentary with a new look and multimedia components, during a critical moment in the country’s energy sector development. The documentary will be advertised and aired on local TV and international news outlets, including CNBC Africa, and on Energy Capital & Power’s digital platforms. For editorial enquiries regarding the Africa Energy Series report and documentary, please contact [email protected].
