Coega oil refinery gets the green light

NATIONAL OIL company
PetroSA says it is going
ahead with plans for a new
crude oil refinery at Coega,
near Port Elizabeth.
Dubbed “Project
Mthombo”, the proposed
refinery is expected to
produce about
250 000 barrels of fuel
a day and will come
on stream in 2014/15,
according to the company.
At an estimated
R36-billion, it will be one
of the biggest post-2010
investments in the country
and would significantly
improve South Africa’s
fuels import bill.
PetroSA said its plans to
build the refinery had been
“ratcheted up” following
confirmation from the
Coega Development
Corporation that it had
been granted preferred
investor status.