Zambia signs $1.1 Billion deal to build major oil refinery in Copperbelt

Zambia has signed a landmark agreement to build a $1.1 billion crude oil refinery and energy complex in Ndola, marking a significant step toward energy self-sufficiency.

Announced Monday, the project will process around 60,000 barrels of crude oil per day — enough to meet the country’s entire current fuel demand and potentially supply neighboring nations in the future.

The refinery, to be located in Zambia’s Copperbelt province, is expected to drastically reduce the country’s dependence on costly fuel imports and save millions of dollars annually.

Officials say the project aligns with Zambia’s long-term economic goals by boosting energy security, creating jobs, and strengthening regional trade links. Construction timelines and investors are expected to be detailed in the coming months.