When it begins operations in 2026, the refinery, on Angola’s Atlantic Coast, is expected to have a capacity of 200,000 barrels per day.
Lusofonia
Brazil and Angola retain their top positions as China’s biggest trading partners among the Portuguese-speaking countries, but trade with Mozambique shows the biggest growth.
An industrial park in China’s island province of Hainan is set to find new applications for extracts and byproducts from Mozambique’s cashew nuts.
There also need to be more flexible rules governing access to a sino-lusophone investment and development fund set up in 2013, Maria Gustava says.
China’s largest offshore oil and gas producer has a US$2 billion stake in the Buzios oilfield, the largest deepwater pre-salt oil field in the world.
Gong Tao listed inadequate protection from natural disasters and ageing infrastructure among the challenges faced by Chinese investors.
Services to Guangzhou are being considered as Mozambique’s debt-ridden flag carrier seeks to generate more revenue.
The funds will be managed by the African Development Bank (AfDB), which will provide additional financing for the project in Benguela province.
Hundreds of millions of dollars in loans will be made available to Brazilian companies in areas such as renewable energy and sanitary landfills.