Zambia Approves Investor Licence for Ndola Oil Refinery Project
Zambia Approves $510 Million Oil Refinery Project in Ndola as ZDA Issues Investor Licence
The Zambia Development Agency (ZDA) has issued an Investor Licence to China Zambia Petrochemical Energy Company Limited, paving the way for the launch of a USD 510.49 million oil refinery in Ndola, Copperbelt Province.
The project, expected to create 454 jobs, will be developed through a Special Purpose Vehicle (SPV) partnership between the Industrial Development Corporation (IDC) and Xiang Xin Holding Co. Limited.
A Boost to Zambia’s Industrialisation Drive
The refinery will be located in the Sub Sahara Gemstone Exchange Industrial Park, a strategic industrial zone poised to accelerate Zambia’s manufacturing and value-addition ambitions.
ZDA Director General Albert Halwampa described the licence issuance as a major milestone, marking the project’s transition into its next implementation phase. He noted that the development reflects growing investor confidence in Zambia.
“It is gratifying that such an important company in a strategic sector is achieving key milestones and is close to actualising its investment. This reflects the high investor confidence currently prevailing in Zambia,” Mr. Halwampa said.
He also highlighted that the licence grants access to incentives—including duty exemptions on equipment and machinery—that will lower the cost of establishing the refinery.
IDC and Project Partners Welcome the Progress
IDC Director Cornwell Muleya welcomed the approval, calling it a critical step toward finalising agreements and ensuring timely project delivery.
“This project heralds a new dawn of industrialisation and marks a turning point to restore Zambia’s industrial glory,” he stated.
Xiang Xin Holding Co. Limited Chairman, Mr. Tieming Huang, expressed gratitude to ZDA, IDC, and the Government for their continued support. The ceremony was also attended by Mr. Phestos Musonda, developer of the Sub Sahara Gemstone Exchange Industrial Park.
Strong Government Support
Mr. Halwampa commended President Hakainde Hichilema for driving investment and trade promotion, which he said has resulted in unprecedented investor interest in Zambia.
With the Investor Licence now issued, the Ndola refinery project moves closer to implementation, positioning itself as a transformative asset for Zambia’s energy and industrial sectors.
