April 16, 2018 / 1:21 PM / 6 months ago

Zambia short-lists five firms for majority stake in oil refinery

LUSAKA, April 16 (Reuters) - 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 Editing by James Macharia)

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