Published On: Mon, Jan 1st, 2018

Government stops with Guangdon Zhenrong Energy

oil refineryWILLEMSTAD - The government of Curaçao puts - as expected - an end to the relationship with the Chinese company Guangdong Zhenrong Energy (GZE). This paved the way for finding a new strategic partner for the operation of the Isla oil refinery. Prime Minister Eugene Rhuggenaath reports this in a letter to GZE.

The Chinese are not able to realize the takeover and modernization of the refinery as of January 1, 2020, in a way as previously agreed.

GZE cannot realize the project financially nor does the company have the unconditional support of the Chinese government, as indicated earlier in the signed Memorandum of Understanding.

The construction of a new LNG plant for the refinery is not yet certain. The company Titan, which received this assignment, has not yet submitted any data, which show that they can take on the construction and exploitation.

Click Tag(s) for Related Articles: