Ivorian oil refiner Société Ivoirienne de Raffinage has secured a €200 million loan from the African Development Bank to finance upgrades that will boost its production of low-sulfur fuels.

The financing supports a diesel hydrodesulfurisation complex under SIR’s broader €833 million ‘Clean Air’ project, backed by a consortium of development finance institutions, aimed at expanding the refiner’s output, strengthening regional fuel security and producing ultra-low-sulfur diesel that meets international environmental standards. The complex is expected to be commissioned in 2029, with construction creating 1,140 jobs and 82 permanent positions once operational, alongside a training programme for around 50 employees.

The project is part of SIR’s wider expansion strategy, which also includes a gasoline reformulation unit to cut benzene content and plans for a new 170,000-barrel-per-day refinery. AfDB Vice-President Kevin Kariuki said the financing reflects the bank’s focus on industrial modernisation and climate action in Ivory Coast.

Source: prospect-intel.com