Zambia’s IDC and ZDA announce $1.1 Billion Oil Refinery With Fujian Xiang Xin
In a joint statement issued yesterday by Kwali Mfuni, Head of Corporate Communication at the Zambia Development Agency (ZDA), and Namakau Mukelabai, Head of Corporate Communication at the Industrial Development Corporation (IDC), it was announced that the IDC and Fujian Xiang Xin Corporation have signed a Memorandum of Understanding (MoU) with ZDA to develop a state-of-the-art crude oil refinery and integrated energy complex valued at $1.1 billion.
The planned facility, set to be located in Ndola, will have the capacity to process up to 3 million tonnes of crude oil annually, equivalent to approximately 60,000 barrels per day.
This ambitious project is designed to meet Zambia’s current fuel demand while positioning the country for future exports to regional markets. Groundbreaking for the facility is scheduled for the third quarter of 2025, with the first phase of commercial operations set to commence in 2026.
During the construction phase, the project is expected to generate approximately 2,200 jobs across civil works, mechanical and electrical installations, and logistics. Once operational, the complex is projected to sustain about 600 direct jobs and more than 2,000 indirect roles in operations, supply chain services, maintenance, and support functions.
The refinery will also feature a 130-megawatt power generation plant, with 100 megawatts of electricity to be fed into the national grid, contributing to Zambia’s energy security.
IDC Chief Executive Officer Cornwell Muleya described the project as a significant milestone in Zambia’s industrialisation journey, aligned with the government’s vision for cost-effective energy independence for both industry and ordinary citizens.
Fujian Xiang Xin Corporation President and Chairperson Huang Tieming expressed pride in partnering with the Zambian Government through IDC, reaffirming the company’s commitment to bringing its technological expertise and world-class engineering capabilities to the project.