The consortium comprises Russian oil producer Tatneft, VTB’s investment banking arm VTB Capital, and South Korea’s GS, reported Reuters.
The refinery aims to process the hydrocarbon reserves in the country that were uncovered in 2006 along its border with Congo.
As per the terms of the tender, the government will invest 40% in the construction of the refinery while the remaining will come from investors.
Scheduled to be developed in phases, the facility will have an initial prodction capacity of 30,000 barrels per day and at full production, the capacity will touch 60,000 barrels per day.
