Rosneft to construct pipeline in Zimbabwe for $ 700 million

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Rosneft to construct pipeline in Zimbabwe for $ 700 million

12.10.2012 18:50

Rosneft to construct pipeline in Zimbabwe for $ 700 million

Russia's leading oil extraction and refinement company Rosneft will take part in the construction of the Zimbabwe-Mozambique pipeline, reports The Kommersant.

The pipe is to run from the port of Beira in Mozambique carrying gas to Zambia, Malawi and Botswana. The company also plans to build an oil storage terminal near Harare. The investments into the first stage of the project (building the pipeline) will make up $ 700 million. The company expects the projects to be commercially successful.

The new pipeline will help Zimbabwe to reduce petrol price. In the start of October petrol cost there $ 1,51-1,58 per liter.

Sources: http://kommersant.ru

Author: Irina Fomina

Tags: Russian oil companies

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