Three new refineries in Nigeria by 2014

1 April 2011

Three new refineries are to be built in Nigeria between 2011 and 2014, it was announced last Tuesday by the director of Refineries and petrochemical products of the NNPC, Philip Chukwu.

The Nigerian National Petroleum Company (NNPC) added that the cost of the works will come to 25 billion dollars.

The capacity of the three new refineries will be 885,000 barrels a day, reports the PANA press agency.

The NNPC is said to have signed a protocol of agreement with the China State Construction Engineering Corporation (CSCEC), a Chinese construction company, reports the news website Rinoceros.org.

The site also reveals that the project is to be financed by a consortium of Chinese banks, but that the definitive funding methods had yet to be set up.

Elsewhere, Linda Middleton, director of a business forum organisation, announced on 21 March that several private American investors, in particular General Electric and Greengate, would be investing 20 billion dollars in the energy sector in Nigeria over the next two years, reports the newspaper Les Afriques.
 

Category: Energy