Curacao Government Signs Refinery Agreement With Chinese Companies
Willemstad, Curacao — The government of Curacao, represented by Prime Minister Dr Bernhard Whiteman, together with the director of the public company Refineria di Korsou NV (Curacao Oil Refinery Inc.), Jose van der Wall-Arnemann, last Saturday signed a heads of agreement with Chinese companies Guangdong Zhenrong Energy Co. Ltd (GZE) and China Zhenrong Holding Limited (CZR), both represented by Chen Bingyan.
The government already has a memorandum of understanding (MoU) with GZE. CZR is a company that GZE will establish in Curacao to execute projects that will result from final future contracts between the parties.
The objective of the heads of agreement is for GZE to invest in the modernization and upgrading of the refinery and Curacao Refinery Utilities (CRU) for these to be able to comply with the highest environmental norms.
As previously reported, this will be accomplished by the use of natural gas as fuel, which will reduce the impact on the environment by 80%. The oil terminal at Bullenbaai will also be upgraded. All these investments will make the refinery, CRU, and the oil terminal more modern and sustainable. The contract is long term and GZE will pay combined tariffs that consist of fixed and variable portions.
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