03-04-08 Mozambique's Ministry of Energy announced an agreement to build an oil refinery with the capacity to produce 350,000 barrels of oil a day in an investment valued at $ 8 bn.
The ministry said the Mozambican government had signed a deal with OilMoz company for the construction of the refinery in Maputo province. The refinery will serve both domestic and regional markets as well as other continents, the ministry said.

This is the second refinery project in Mozambique. The first planned refinery in northern Nampula province is expected to produce 300,000 bpd. Construction of that refinery by Ayr Petro-Nacala Logistica started in March and is expected to be finished in 2010 at a total cost of $ 5 bn.
The two refineries will substantially decrease the southern African country's reliance on imported fuel.