Gemcorp Holdings Limited (GHL), the Africa Finance Corporation (AFC), and the African Export-Import Bank (Afreximbank) announce, in a statement released this Thursday, the completion of the financial package for the construction of the Cabinda Refinery, valued at $335 million.
The project, valued at $473 million, is financed with $138 million in resources already provided by its shareholders and $335 million in project financing provided by a banking syndicate led by AFC, Afreximbank, and a group of international and local financial institutions.
The Cabinda Refinery is being implemented by GHL in partnership with Sonangol, as stated in the statement sent to JA Online.
“The approved credit line now covers the first phase of the construction of the Cabinda Refinery, which will allow the processing of 30,000 barrels of crude oil per day,” the document reads.
