CITAC completes study on why so many refinery projects are announced in Africa but few are built
The CITAC study shows that there have been around 60 major refining projects announced in Sub Saharan Africa over the past 7 years but only 5 built. The 5 include the new Chinese built Khartoum refinery and some debottlenecking projects in South Africa and Cote d’Ivoire as well as a small refinery in construction in Nigeria.
The study asks why African governments are so keen to announce new projects involving billions of US Dollars of finance without first checking that the promoters have the potential to raise such large sums and whether the refining margins are likely to support the investment. CITAC specializes in Economic appraisal of refining projects and is always keen to support serious investment projects.