Minister of Energy Mathew Nkhuwa has disclosed that all legal procedures to establish an oil pipeline from Angola into Zambia have been concluded.
Mr. Nkhuwa said that the Memorandum of Understanding between Zambia and Angola will be signed on October 12, 2018.
The Minister said that Government is ready for the project and that feasibility studies will start before the end of the year.
Mr. Nkhuwa told ZNBC News in an interview that the oil line will bring many economics benefits to the country because oil will be cheaper as the importation cost will be reduced.
Mr. Nkhuwa said that the pipe line will also bring in petrol, diesel and gas used for cooking.
Mr. Nkhuwa further said that the development will also mean reduced pressure and congestion on the roads which will mean less refinancing on the road sector.