Plans to build Africa’s biggest oil refinery have moved a step closer to reality with the granting of a manufacturing licence in the Coega Industrial Development Zone to PetroSA. The licence allows PetroSA to manufacture refined petroleum products at the Coega site. Still to come are the Environmental Impact Assessment and various other approvals. The granting of the licence follows the appointment of HSBC as financial adviser to the project. Expected to cost US$11-billion, the refinery will be capable of processing 400 000 barrels a day of crude oil. It is due to come on stream in 2014, and is expected to create over 25 000 direct and indirect jobs around the Port Elizabeth area.
