Russia has approved plans to construct a massive oil pipeline in rich oil Republic of Congo sendinf a strong signal that the country means business in Africa.
The project will be undertaken by ZNGS Prometey, a contruction behemoth in Russia with enormous construction fleet. The company will own 90% of the venture, while the National Petroleum Company of Congo will own the reminder.
The project will adopt a build-own-operate-transfer model with Congo expected to offer tax relieve opportunities in the deal set to be signed in the coming months.
The oil pipeline will connect the country’s port city of Pointe-Noire to the settlement of Makoulou Pichot, about 40 kilometers (29 miles) northeast of the capital Brazzaville.
The pipeline will also pass through the town of Loutete, about 155 kilometers (96 miles) west of Brazzaville.
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