SUBSIDIARY NAME
DAM DEVELOMENT INT. RDC, S.A.R.L
COUNTRY
DEM. REP. CONGO
SECTOR/ INDUSTRY
ENERGY
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
APR 18, 2022
ACQUISITION VALUATION
11.27 BILLION USD
TOTAL ASSET VALUATION
112.7 BILLION USD
ENERGY-OIL-REFINERY-GAS
DAM DEVELOMENT INT. RDC, S.A.R.L: IIB-DG acquires DAM DEVELOPMENT INT. RDC, S.a.r.L on APR 18, 2022 for Supporting the efforts of various governments in Africa and beyond in their quest to reduce the unemployment situation. Improving foreign exchange. Improving national strategic stocks in DRC and beyond. Taking advantage of expected benefits that will arise from the petroleum hub project (a $50B ticket project) currently being promoted by the Government of DRC. The project proposes to construct a 300,000 barrels per day crude oil processing refinery. The refinery will be designed to be integrated, and self-sufficient and will be delivered as a complete package with the required power backups. The complete package will comprise of the following processing units.