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Sotrapil scraps Tunisian pipeline project

Thu, 5 March 2009

TUNISIAN oil and gas pipeline operator Sotrapil is understood to have cancelled a fuel pipeline construction project for reasons of profitability, the company said. “It has been decided for economic profitability reasons to replace the project that was due to link the Sahel and Skhira zones by the use of the existing Sidi Khilani-Skhira pipeline,” Sotrapil said. The company went on to say that it would ask shareholders for authorization to re-classify the $355 million that was put aside for the project in 2007 as delayed earnings, and distribute the money to them via an issue of new stock.

The 185-km planned pipeline, designed to carry refined fuel products between storage facilities in the coastal town of Skhira and central and southern Tunisia, was initially scheduled to begin operations at the end of 2007.

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Categories: Africa, Projects

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