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Kenya says plans to convert sole refinery into storage plant

Published on March 23, 2016

Kenya plans to take over ownership of a mothballed refinery in Mombasa and convert it into a storage plant, a top official said, to help progress the country's energy ambitions. The refinery has not been operational since 2013 after plans for a $1.2 billion upgrade were abandoned on the advice of consultants who said it was not economically viable. Energy and Petroleum Cabinet Secretary Charles Keter said the East Africa nation will pay out 500 million shillings ($5 million) owed to the facility's co-owner, India's Essar Energy , to pave the way for the plant's revival. Read more . Source | Standard Digital