[Haichuan Overseas Engineering] GCL Group deepens cooperation with Ethiopia to build a $2.5 billion refinery

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This post was last edited by HaiChuanLaoYu on 2025-10-22 at 21:40. According to foreign media reports, Golden Concord Group signed an agreement with Ethiopia earlier this month to build an oil refinery worth $2.5 billion in the country’s Somali Region, in order to help Ethiopia reduce its oil imports and promote industrial development. The refinery will be developed jointly by GCL Group and the sovereign wealth fund Ethiopian Investment Holdings (EIH). The project is called the Gode project; in addition to the refinery, it also includes a fertilizer plant built jointly by the state-owned Ethiopian Investment Holding Company and Nigeria’s Dangote Group. Ethiopia’s Prime Minister Abiy Ahmed Ali recently launched the Gold Project, laying the foundation for an oil refinery and a fertilizer plant. The refinery is expected to process around 3.5 million tons of fuel per year, which is approximately 70,000 barrels per day (bpd). The project’s commissioning date has not yet been announced, but according to the prime minister’s spokesperson, the first of the two construction phases should be completed within 24 months. The facility will use crude oil and condensate from the Hilala oil field in the Somali Region of eastern Ethiopia. At the beginning of this month, GCL Group’s 200,000 cubic meter modular LNG plant in Ethiopia began operations, while large-scale projects such as the second phase of the LNG liquefaction modular facility and natural gas power generation also started construction at that time. According to foreign media reports, Ethiopian Finance Minister Ahmed Shide and Zhu Gongshan, chairman of GCL Group, discussed accelerating the development of refineries, metallurgical centers, as well as oil and gas projects. Give praise and encouragement to the achievements made in China’s chemical engineering technology and equipment; your participation in discussions is the greatest encouragement**********************【Ten Years of Great Development in Chemical Engineering Equipment】Ongoing updates and summaries available – feel free to join the discussions: https://bbs.hcbbs.com/thread-3576046-1-1.html *****************