SUBSIDIARY NAME
TEC CTL (PTY) LTD
COUNTRY
REPUBLIC OF BOTSWANA
SECTOR/ INDUSTRY
OIL AND GAS
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
MAY 26, 2022
ACQUISITION VALUATION
21 BILLION
TOTAL ASSET VALUATION
210 BILLION
ENERGY-OIL-REFINERY-GAS
TEC CTL (PTY) LTD: THE TEC CTL PROJECT- COAL TO LIQUID
The project has advanced greatly and the following are:
- Coal & Land security: Currently the company has been offered a favourable deal with the only existing coal mine called Morupule Colliery situated in Palapye. Conditional supply agreement has been agreed.
- Morupule Colliery did go further to make a provision to allocate enough land to setup the plant within their coal concession zone for easy supply of coal.
- There currently own the massive deposits of coal and supplying the only coal powered station of Botswana operated by Botswana Power Corporation Limited.
- There do have the capacity to supply the project at the quantity we require for over 100 years.
- Furthermore, there are prepared to expand the mine to meet our demands.
The Area is declared a Coal Beneficiation economic Zone which means the EIA and Archaeology process is a formality. In short, the EIA is technically approved. The plant will produce liquid from coal and manufacture petroleum products, like jet fuel, diesel, petrol, oil and other related products to provide markets in Botswana, Lesotho, Zambia, Zimbabwe, Mozambique, Namibia, Angola, South Africa and international countries through pipelines, rail and road transport.