THE WORKING PRESIDENT EDGAR LUNGU AND PF GOVERNMENT MINES, Energy and Water Development Minister Christopher Yaluma says the Government will start the construction of strategic oil reserves in Eastern, Northern and Southern provinces by mid next year. The establishment of strategic petroleum reserves was approved by Government to help stabilise pump prices of fuel in the country. Mr Yaluma stated that as soon as resources were sourced the construction of the strategic oil reserves would commence. He said the construction of strategic oil reserves would help reduce pump prices of fuel in the country. “The construction of these oil reserves will act as a cushion on transportation cost because currently transportation costs are being embedded in the final pump prices on the market,” he said. He said once the construction of the provincial strategic oil reserves was completed, the cost of doing business in Zambia would also reduce. The minister further stated that the oil reserves would also act as a contingency plan when there is a problem at indeni petroleum refinery. “When indeni is experiencing problems for example the provincial strategic oil reserves can used as to avert a fuel crisis,” he said. Mr Yaluma revealed that the construction of the strategic oil reserve in Solwezi was almost complete and was expected to be commissioned by February 2015. The Solwezi strategic oil reserve would have a 15 million litre capacity. He added that the construction of the Mongu oil reserve would soon commerce. “What delayed the commencement of the oil reserve in Mongu is the construction of the access road but now the access road has since been completed, “he said. Government has so far completed the construction of Mpika reserve tank which was constructed at the total cost of US$23 million. The Lusaka oil reserve which was constructed at the K132 million and commissioned in August last year has a capacity of 25 million litres. VOTE FOR PF FOR PRESIDENT EDGAR LUNGU
Posted on: Sat, 27 Dec 2014 14:31:59 +0000
Trending Topics
Recently Viewed Topics
© 2015