Major Milestone Reached For Project Mthombo
PetroSA says that technical work by Sinopec Engineering Incorporation (SEI) for Project Mthombo was completed at the end of last year which was “a major milestone in preparation for the feasibility study”.
Project Mthombo, the oil refinery planned for the Coega Industrial Development Zone (IDZ), is one of PetroSA’s flagship projects.
PetroSA’s Annual Report, tabled in Parliament, notes that “following a successful pre-feasibility study partnership” between PetroSA and Chinese state oil company Sinopec, the two entities extended their cooperation with the signing of a Framework Agreement in March last year.
It says that in the 2013/14 financial year, the partners “focused on preparations for the implementation of the feasibility phase of the project.
“Discussions with the Industrial Development Corporation (IDC) were initiated, and continue, with a view to expanding the number of project developers. The project partners also explored options to strengthen the partnership by including a crude oil supplier in the feasibility phase of the project.”
The report says that on the technical front, an updated Linear Programming (LP) model was developed by SEI in partnership with the PetroSA technical team.
“Options for integrating the production of petrochemicals into the Mthombo refinery design were also developed.”
The report points out, that Project Mthombo does not only aim at contributing to energy security for the country but is also “a key component of critical infrastructure projects in the Eastern Cape as contained in the National Infrastructure Plan.
“As such, the proposed refinery is set to become a major engine for economic development in the Eastern Cape.”
Looking at progress made in the last financial year, PetroSA says “the review of the business case for the refinery, including options for its configuration, the expected capital costs and refinery economics was jointly completed and approved by PetroSA and its anchor partner Sinopec”.
Looking forward, it states that the discussion with partners for the development of the feasibility study is “ongoing”. - MetroMinutes.
Photo Caption:Coega Industrial Development Zone is one of PetroSA’s flagship projects. Photo courtesy of www.nmbbusinesschamber.co.za
The Coega Development Corporation (CDC) has announced plans for the development of an R86 million agro-processing multi-user facility to be located in the Coega IDZ.
Nelson Mandela Bay should have some idea of whether National Government intends to assist in funding the completion of the Nooitgedagt Low Level Scheme, when Finance Minister Nhlanhla Nene tables his 2015 Budget and accompanying documentation in the National Assembly on February 25.
The Coega Industrial Development Zone will become a Special Economic Zone (SEZ) in July 2016.
The South African Weather Service has warned that there will be strong weather conditions in certain parts of South Africa.
Nelson Mandela Bay has experienced a construction boom led by the Baywest Mall and Coega Development Corporation (CDC)...
As South Africa continues to experience economic pressure, Nelson Mandela Bay Municipality (NMBM) is grabbing the bull by its horns in a bid to enhance economic growth and to weather the storm.
The Department of Environmental Affairs has issued environmental authorisation for the construction of marine infrastructure at the Port of Ngqura.
The children at Autism Eastern Cape’s pre-school in Main Road, Walmer, were thrilled with the donation of a large trampoline this month...
The Democratic Alliance (DA) has called on Parliament’s Joint Committee on Ethics and Members’ Interests to investigate Energy Minster, Tina Joemat-Pettersson, for alleged misconduct into the recommendation and appointment of Tshepo Kgadima as board chairman of PetroSA.
The estimated value of the Coega Industrial Development Zone’s (IDZ) investor pipeline stood at R122.3 billion in July this year, according to figures released by the Department of Trade and Industry (DTI).
- Petrol price April 2017: AA predicts fuel price decreases even after fuel levy increases
- Eight suspects expected in Port Elizabeth courts for various crimes
- Over 1 000 police vehicles out of service in the Eastern Cape alone: DA
- 'White monopoly capital': an excuse to avoid the real problems!
- Here is your weather picture for Wings and Wheels Festival and IRONMAN weekend