Zambia and Angola have signed a $5 billion deal (€4.1 billion) to build an oil pipeline between the two southern Africa nations.
Lawrence Chalungumana, Zambia’s ambassador to Angola, said the project will pave the way for a pipeline to supply finished petroleum products from oil-rich Angola to its neighbour.
He said: “This milestone agreement will bring to an end a more than 10-year old complex negotiation process that shall lead to cheaper fuel for Zambia.”
The petroleum pipeline will be developed by the private sector with state-owned petroleum Angolan firm SANANGOL and the Zambia state company Industrial Development Corporation-IDC Zambia as strategic equity partners.
Once completed, the Zambia-Angola multi-product petroleum pipeline will transport petrol, diesel, kerosene and gas.
The project also rekindles hope for the Zambian community to start purchasing gas at a lower price than the current kwacha 17.9 (€0.75) per litre of petrol.
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