Zambia Short-lists Five Firms for Majority Stake in Oil Refinery
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Zambia has short-listed five companies including Britain's Glencore Energy Ltd. and Sahara Energy Resources Ltd. to buy a majority stake in its only oil refinery, a state-owned firm said on Monday.
The government-owned Industrial Development Corporation (IDC) has said it wants a strong strategic equity partner that will improve the production capacity of Indeni Oil Refinery to a level that will meet the nation's future petroleum demand.
The IDC said in a statement the short-listed firm will now be asked to submit technical proposals on their bids.
Reporting by Chris Mfula
