I really can’t understand our economic management.
Nobert Mumba Wrote;
1. We close indeni and convert it to receiving refined stock.
2. We also convert the pipeline to stop transporting crude oil to processed diesel and later processed petrol.
3. We announce 20-25 ownership in a refinery in Angola to process crude into finished products for us to benefit from cheaper oil and export of the surplus from the refinery.
4. Then we announce that we will be constructing a big refinery with capacity to process 60,000 litres of crude per day or 9.5m litres which we have no capacity to consume.
The Questions
1. Why did we close Indeni a Zambian asset only to bring in a foreign asset. Why didnt we just call for equity partnership.
2. What will happen to the converted pipeline and the fuel being transported on it as the intended refinery will have capacity to supply Zambias daily needs?
3. What will happen to the benefit we are supposed to derive from the Angola refinery given we will have enough, most likely more expensive, fuel from the new refinery.
4. How do we invest heavily in crude oil refining when we are urged to go electric vehicles?
5. Are we again signing fuel purchase agreements like so-called power purchase agreements that are disadvantaging Zesco
I am baffled and please don’t tell me we will be able to deal with the four without again having to waste money by closing the pipeline or leasing out cheaply the pipeline line. We are obviously cannibalising our own investments to our detriment. What do we really want?
Go sleep if you can not understand anything
Us we are able to understand our economy
You can’t understand when you are using defective binoculars of comrade Nakachinda
Please send an inquiry to the govt at ministry of finance, or commerce or even bank of Zambia. They will explain.
No one puts all the eggs in one basket. Indeed has very old technology and we spend millions in maintenance. That is why it needs to be replaced. There are no spares being manufactured for that plant. It is the same with Kafue nitrogen.
That new plant will also bring on board 300 MW of power! We are eying DRC for exports too! Great foreign exchange earnings will strengthen our currency and ultimately strengthen our economy.
It is prudence to invest at the source. Investment in Angola helps us to get the best of both Sir. So as can be seen, it is called investment mix.
The Tazama pipeline is now an open source, a conduit to be used by others. It is like a rail line that other importers may also use.
On Zesco, again, it is this mix that will guarantee continued supply of reliable power, good for everyone. The country can’t just afford to have one source only.
You shall understand when benefits start accruing.
Use this upcoming Lusaka agriculture and commercial show to clarifying issues.