Government consulting on offloading 50% Indeni shares

abarrelfullabarrelfull wrote on 23 Nov 2011 14:10

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ZANIS-Government is consulting stakeholders on the possible way of disposing off 50 percent shares in Indeni Oil Refinery in Ndola. Deputy Minister of Energy, Lubinda Imasiku said government has engaged both local and foreign stakeholders in the consultation process to determine the fate of the Ndola refinery.

He said government will only decide on the company’s share disposal after concluding all the consultations.

“Government will announce how it will dispose off the 50 percent shares once we conclude with consultations. For now we are only waiting to conclude these talks then we will announce,” he said.

Mr. Imasiku was responding to a question from Kanchibiya Member of Parliament Davis Mwango who wanted to know the progress government has made in disposing off the 50% shareholding in Indeni Oil Refinery following the pull out of Total Zambia in 2009.

This was during the question for oral answer session in parliament today

And Minister of Energy, Kenneth Konga said the consultations on the matter also include whether government should float the shares on the Lusaka Stock Exchange (LuSE) and other options.

Mr. Konga was responding to a follow up question on whether government has plans to consider offloading the shares ion the stock exchange.

Total Zambia, who owned 50 percent of the shares in the Indeni Oil Refinery, pulled out in 2009 and government has since become the sore owners of the refinery.

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