These technical presentations, which began in Luanda on 10 October, attended by almost 100 potential stakeholders, aim to secure investment, construction and operation of a refinery with a capacity to process up to 100,000 barrels of oil per day.
The public procurement law (Decree Law No. 9/16 of 16 June) is applicable to the tender, and Presidential Decree 10/18 of 26 June, Presidential Decree No. 208/19 of July 1, Executive Decree No. 217/17 of April 10 and Decree Law 17/09 of June 26, are applicable to the investment.
Among the various tax incentives offered for the Soyo project are those that, by their nature, make the investment more attractive and profitable, as outlined in the Private Investment Law, such as the 80% reduction in Industrial Tax for a period of eight years, reduction of 75% in the Urban Property Tax rate for office property and investment establishment, also for eight years, and the reduction of the tax on the distribution of profits and dividends by 80% within the same time period.
From 24 October to 1 November, the intention to participate will take place electronically during the same period, and the period for the presentation of investor information for consideration by the competent departments will run until 8 November.
Submission of proposals will take place on 18 December and the following day the public opening of the proposals will be held in the presence of all candidates or their representatives.
Proposals will be assessed from 20 December to 5 February 2020 and the winner will be announced on 4 March.
The construction of the Soyo refinery is part of a programme that also includes the construction of similar facilities in Cabinda (60,000 barrels per day) and Lobito (200,000 barrels per day), as well as the refurbishment and modernisation of the Luanda refinery, which will quadruple its capacity from 300,000 to 1.2 million tonnes per year.