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Zimbabwe to Get U.S.$1,5bn Oil Refinery Posted: Wednesday, October 10, 2007 A Qatar company will invest around US$1,5 billion in Zimbabwe to build an oil refinery, in a show of confidence in the country's economic potential. Venessia Petroleum is run by a member of Qatar's ruling family and says it has confidence in Zimbabwe despite the current problems. It plans to build a 120 000 barrels-per-day refinery in Harare, while its sister company will develop a five-star hotel in Harare, the company's general manager Mr Jawhar Zaidi said on Monday. [The Zimbabwe] Government adopted a Look East policy to increase political and economic co-operation with friendly countries in the Far East and Middle East after Western countries led by Britain and the United States slapped Zimbabwe with illegal economic sanctions. Full Article : allafrica.com |
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