AFC signs Joint Development Agreement for first refinery in Guinea

Africa Finance Corporation is to act as co-developer on the development and financing of a petroleum storage and associated refinery project in Kamsar, Guinea, by Brahms Oil Refineries.

The project includes a 76,000m³ crude oil storage terminal; 114,200m³ storage terminal for refined products; ancillary support transportation infrastructure, and 12,000 barrels oil per day modular refining facility. Through the Joint Development Agreement, AFC will invest in the project development workstreams that should ensure it reaches financial close in 2020.