Metso plans to help Namibia set up oil refinery

03 Jun 2014 12:00pm
HELSINKI, 03 JUN (NAMPA) - Finland-based mining company, Metso has expressed interest in helping Namibia in its endeavour to set up an oil refinery plant.
Metso's Vice-President for Services Business Line, Timo Hanninen told Nampa in an interview on Monday that his company is willing and ready to help Namibia build up “the best possible crude oil project”.
Hanninen was among the business personalities that attended the Finland-Namibia Business Forum in Helsinki.
Metso is a supplier of technology and automation services to customers in the mining, construction, and oil and gas industries.
The company is also known for its advanced automation solutions for pulp, paper and power generation.
Earlier this year, the Nigerian and Namibian governments proposed to construct a joint oil refinery to maximise co-operation in the energy sector.
That decision between Namibia and Nigeria was reached during a two-day state visit of President Goodluck Jonathan to Namibia at the invitation of his counterpart, President Hifikepunye Pohamba in March this year.
The refinery, which would be located in the Namibian harbour town of Walvis Bay, would be wholly privately-financed and will cost US.dollars 1 billion (approximately N.dollars 10 billion).
The two leaders urged the private sectors of both countries to work toward a speedy realisation of the joint oil refinery.
Although Hanninen could not give a clear indication of how much they are willing to invest in setting up the oil refinery in Namibia, the Metso leader was confident that they would be able to do a good job to help establish the best possible oil refinery in the country.
Metso is listed on the Finland Stock Exchange as NASDAQ OMX Helsinki Ltd.
“We heard that Namibia is planning to invest in establishing its own oil refinery, and Metso is also very much interesting to help in building up the project's specifications,” he reiterated.
He explained that apart from building up the project, the company will also help the country to set up specifications and set up a service centre to educate the local people.
“To have the best refinery plant in the country, you will also need a well-skilled labour force. You need to have highly educated people to run the refinery plant,” said Hanninen, adding that Metso has an extensive service portfolio which will take care of the plant's life circle and ensure that the customers are served in the best way possible.
Metso Mining and Construction supplies technology, machinery and services for aggregates production, construction, mining and mineral processing.
The company employs 18,000 people in 50 countries.
Namibia’s Trade and Industry Minister, Calle Schlettwein is currently in Finland with a 42-member business delegation which includes representatives of government agencies and state-owned enterprises such as the Environmental Investment Fund of Namibia, the Agro-Marketing and Trade Agency, Meat Board of Namibia, Meat Corporation of Namibia, the Namibia Trade Forum, Namibia Ports Authority, Walvis Bay Corridor Group, Offshore Development Company and the National Commission on Research, Science and Technology.

(NAMPA)
MMT/JK