“The proposed project is construction of a hydrocarbons storage facility with total capacity of 15.5 million litres in Chief Kapijimpanga’s area in Solwezi.

“The project proponent is the Ministry of Mines, Energy and Water Development through TAZAMA, while the project developer is Belgravia Dalbit International, which will construct the storage facility and then supply fuel to Government,” reads of part of the report released by Zambia Environmental Management Agency (ZEMA).

The Southern Africa country is overtly dependent on crude oil imports and this is exacerbated by a deepening energy crunch and accelerated growth in economic sectors like manufacturing, construction, mining, tourism and agriculture. But due to a rising cost of crude oil and increasing demand for energy, there is substantial demand for cheaper, quicker and environmentally friendly forms of energy that can be produced locally.

This year Zambia’s Energy Regulation Board (ERB) increased the fuel pump price of petroleum products by 7.22 percent for petrol, 8.75 percent for diesel and 9.54 percent for kerosene.

Zambia pump prices are determined based on the cost of each cargo and the exchange rate of the Kwacha to the United States Dollar.