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The Sacoil Holdings Ltd. group of South Africa intends to diversify its assets with the construction of a natural gas processing plant and natural gas pipeline in Mozambique, said chief executive Thabo Kgogo as reported by Macauhub news agency.
“We are negotiating with some international engineering companies wishing to participate in a project to build a processing plant for natural gas in Mozambique and a 600-kilometre pipeline to transport the gas to South Africa,” said Kgogo, CEO of the oil group based in Johannesburg.
Thabo Kgogo also told the Bloomberg financial news agency that feasibility studies are expected to begin in the first quarter of 2015.
The group started to diversify its assets abroad this year and in the case of Mozambique signed a memorandum of understanding on construction of the processing plant and pipeline with the Public Investment Corp. of South Africa and the Institute for Management of State Holdings (Igepe) in Mozambique.