The Quantem consortium, which includes TGT, Quantem, Aurum & Sharp in the United States and Atis-Nebest in Angola, will invest $3.5 million to establish the country’s third-largest oil refinery in Soyo by 2024. The refinery is intended to process 100,000 barrels of oil per day once completed (bpd).
This was revealed by President, Joao Lourenço, at the International Foundation for the Conservation of the Environment’s Annual Gala in Luanda, Angola.
The investment is a direct result of the established strategic partnership with the United States government, which has played an influential role in eradicating corruption, money laundering, malaria, HIV/AIDS and the COVID-19 pandemic through the acceleration of vaccine programmes in partnership with U.S. brands.
EximBank is also cooperating with US investors to create other projects in the country, ranging from mobile carriers to Angola’s largest solar project, as well as growing into other industrial areas that will help the country thrive.
