South Sudan To Receive $1 Billion South African Investment

South Sudan's oil industry is expected to receive $1 billion investment from South Africa. That was jointly announced by the governments of South Africa and South Sudan on November 23, 2018, according to some media sources on the same date.

The announcement continues that under a Memorandum of Understanding (MoU) signed by the two governments, the envisaged investment will entail construction of a refinery with a capacity of refining 60 000 barrels of crude oil per day, as well as exploration for new oil reserves.

Hitherto the MoU, South Sudan oil industry was dominated by firms from China, Malaysia, and India.

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