SAPREF

Building of a new but bigger refinery. Assets acquired by CEF include: SAPREF land and other associated assets, including tanks, process units, pipelines to and from SAPREF to the Island View terminal and Single Buoy Mooring for crude imports. SAPREF was a JV between Shell Refining SA and BP Southern Africa. SAPREF was established in 1963, it was the largest crude oil refinery in SA with 35% of South Africa’s refining nameplate capacity processing 180,000 barrels of crude oil per day producing 10 main products in 46 different grades. The refinery was severely impacted by extensive flooding in April 2022, which led to the refinery being non-operational. The partner must provide technical and financial support in building a new but bigger refinery; envisioned nameplate capacity of ca. 650,000bpd. **Project location** The project is located in Durban, in the Kwa-Zulu Natal Province **Project investment value** ZAR280bn (US$15bn) estimated. **Investment Opportunity** Both Debt & Equity **Project status** The refinery was severely impacted by extensive flooding in April 2022, which led to the refinery being non-operational. In September 2024, the Competition Commission of SA, the regulator, approved CEF’s acquisition of SAPREF. CEF is in the process of completing other CPs per the signed Sale & Purchase Agreement. **Existing partners and commitments** SAPREF is a 100% subsidiary of the Central Energy Fund Group. The Group is an SOE that is owned 100% by the Government of South Africa’s Department of Petroleum & Mineral Resources. **Requirements from additional partners** Investment in the form of both technical & financial support. **Responsible institution** Central Energy Fund