/strong%20has%20signed%20a%20Joint%20Development%20Agreement%20(JDA)%20with%20Brahms%20Oil%20Refineries%20Limited%20on%20the%20development%20and%20financing%20of%20a%20petroleum%20storage%20and%20associated%20refinery%20project%20in%20Kamsar,%20strongGuinea/strong.Brahms%20is%20to%20act%20as%20a%20co-developer%20on%20the%20project%20which%20will%20be%20a%2076%20million%20litre%20crude%20oil%20storage%20terminal,%20114.2%20million%20litre%20storage%20terminal%20for%20refined%20products,%20ancillary%20support%20transportation%20infrastructure%20and%20a%20modular%20refining%20facility%20of%2012,00%20barrels%20of%20oil%20per%20day.The%20strongAFC/strong%20will%20invest%20in%20the%20project%20development%20workstream%20to%20ensure%20that%20the%20project%20reaches%20financial%20close%20this%20year.%20Alongside%20this%20project,%20to%20increase%20its%20impact%20in%20Guinea,%20the%20AFC%20is%20also%20considering%20other%20projects%20to%20create%20an%20integrated%20ecosystem.%20This%20would%20include%20a%2033%20megawatts%20solar%20project%20port%20and%20other%20mining%20projects.Upon%20completion,%20the%20refinery%20will%20cover%20one-third%20of%20the%20country's%20demand%20for%20refined%20products.%20The%20project%20will%20reduce%20the%20amount%20spent%20yearly%20by%20the%20government%20to%20import%20refined%20products,%20improve%20the%20balance%20of%20payments,%20reduce%20the%20demand%20for%20foreign%20currency%20and%20it%20will,%20directly%20and%20indirectly,%20create%20lots%20of%20employment%20for%20citizens%20of%20the%20country.It%20will%20also%20help%20in%20the%20development%20of%20other%20sectors,%20like%20the%20mining%20sector%20which%20accounts%20for%20about%2015.3%%20of%20the%20country's%20GDP%20but%20has%20the%20potential%20to%20do%20more%20with%20the%20right%20infrastructure%20and%20the%20right%20needs%20for%20the%20country's%20natural%20resources%20as%20the%20project%20is%20located%20in%20one%20of%20the%20largest%20mining%20regions%20in%20the%20country,%20Kamsar.Guinea%20has%20no%20refining%20capacity%20and%20the%20Kamsar%20refinery%20will%20process%20crude%20oil%20for%20the%20production%20of%20diesel,%20kerosene,%20gasoline%20and%20fuel%20oil.%20Brahms%20will%20build,%20own%20and%20operate%20the%20refinery.Brahms%20Oil%20Refineries%20Limited%20is%20part%20of%20a%20strongSwitzerland/strong%20based%20company%20with%20an%20industrial%20and%20financial%20network%20and%20a%20great%20knowledge%20of%20Sub%20Saharan%20Africa.%20The%20company%20is%20driven%20by%20lack%20of%20refining%20capacities%20in%20Africa%20and%20a%20need%20for%20African%20countries%20to%20have%20oil%20reserves%20to%20build%20modular%20refineries%20in%20selected%20Sub-Saharan%20countries.a%20href=https://ibekachikwu.com/wp-content/uploads/2020/07/0b21c4ea-d210-4df8-b7e7-9f44e91d4db8.jpgimg%20class=size-medium%20wp-image-2116%20aligncenter%20src=https://ibekachikwu.com/wp-content/uploads/2020/07/0b21c4ea-d210-4df8-b7e7-9f44e91d4db8-300x229.jpg%20alt=%20width=300%20height=229%20//a){kind=link}
The Africa Finance Corporation (AFC) has signed a Joint Development Agreement (JDA) with Brahms Oil Refineries Limited on the development and financing of a petroleum storage and associated refinery project in Kamsar, Guinea.
Brahms is to act as a co-developer on the project which will be a 76 million litre crude oil storage terminal, 114.2 million litre storage terminal for refined products, ancillary support transportation infrastructure and a modular refining facility of 12,00 barrels of oil per day.
The AFC will invest in the project development workstream to ensure that the project reaches financial close this year. Alongside this project, to increase its impact in Guinea, the AFC is also considering other projects to create an integrated ecosystem. This would include a 33 megawatts solar project port and other mining projects.
Upon completion, the refinery will cover one-third of the country’s demand for refined products. The project will reduce the amount spent yearly by the government to import refined products, improve the balance of payments, reduce the demand for foreign currency and it will, directly and indirectly, create lots of employment for citizens of the country.
It will also help in the development of other sectors, like the mining sector which accounts for about 15.3% of the country’s GDP but has the potential to do more with the right infrastructure and the right needs for the country’s natural resources as the project is located in one of the largest mining regions in the country, Kamsar.
Guinea has no refining capacity and the Kamsar refinery will process crude oil for the production of diesel, kerosene, gasoline and fuel oil. Brahms will build, own and operate the refinery.
Brahms Oil Refineries Limited is part of a Switzerland based company with an industrial and financial network and a great knowledge of Sub Saharan Africa. The company is driven by lack of refining capacities in Africa and a need for African countries to have oil reserves to build modular refineries in selected Sub-Saharan countries.
