Fuel importation consortium, Petroleum Importers Limited (PIL), has been asked to consider going beyond importation of petroleum products and venture into refining crude oil.
Malawi Confederation of Chambers of Commerce and Industry (MCCI) President James Chimwaza made the call in Blantyre on Friday during PIL’s 20th anniversary celebration.
He rated the aspiration as a moon-shot considering the heavy investment required but was quick to sat it is attainable as Malawi has enjoyed peace for more than 50 years, which is a catalyst for attracting investors.
”When we import crude oil, we are not just importing diesel and petrol but all other petroleum-related products such as lubricants, grease, petroleum jelly, beauty and ointments. All in all, these products can be sold elsewhere on the continent.
”It will require not just these companies but now opening up to the entire private sector for capital formation thereby encouraging them to start thinking in that direction,” Chimwaza said.
PIL Deputy Board Chairperson Davis Lanjesi said the consortium would consider the proposal.
”A refinery produces so many litres of fuel per hour so you need to have huge storage facility to begin with so that you can keep it of transport it. So it probably calls for another pipeline, obviously that cannot be to satisfy the Malawi market but also export. We will need to work with other countries,” Lanjesi said.
He described the past 20 years as successful as the company was able to supply the country with fuel unceasingly.
Source: The Daily Times_December 7, 2020-Chimwemwe Mangazi