Modular Refinery: US agency approves 360m grant for development of modular refinery in Nigeria

Stuart Symington, United Nations Ambassador to Nigeria

The U.S. Trade and Development Agency (USTDA) has approved a grant of $1 million (N360 million) for the detailed engineering design of 20,000 barrel per day (bpd) modular refinery in Lagos.

Mr Enyeribe Anyanwu, Head, Media Communications of Integrated Oil and Gas Ltd., disclosed this in a statement made available to newsmen in Lagos on Sunday.

Anyanwu said that the U.S. Ambassador to Nigeria, Mr Stuart Symington, who disclosed this during the official signing of the agreement in Lagos, commended the initiative of Eko Petrochem and Refining Company’s management.

Symington expressed the hope that the proposed 200, 000 bpd production refinery would attract more investments to the country and develop host communities.

The U.S. Ambassador to Nigeria commended the Chairman of Integrated Oil and Gas, Capt. Emmanuel Iheanacho, for his commitment to the project.

He also praised the Federal Government for believing in the power of the individual citizens and entrepreneurs to undertake laudable projects for the nation’s development.

Capt. Iheaneacho said the Eko Petrochem and Refining Company would complement efforts of the Federal Government in providing lasting solution to the problems of importation of refined petroleum products into the country.

He said that the U.S. Government, acting through the USTDA, has accelerated the process of the planned economic investments through the industrial development grant of one million dollars, which it had seen fit to bestow to us.

‘‘By delivering this grant, the agency has demonstrated its commitment to the infrastructure development and economic growth of Nigeria, especially in the areas of export technologies and services that promote the country’s refining capacity,’’ he said.

he further stated that the grant is to be specially used to finance the completion of the detailed analysis of supporting technologies and engineering for the implementation of 20,000 bpd crude oil refinery.

He also said that there would also be enhanced economic value added opportunities to be realised in terms of jobs, profits and technology transfer which would become manifest.

The USTDA helps companies to create the US jobs through the export of the US goods and services for priority development projects in emerging economies.

The 116 million dollars project to produce 20,000 barrel capacity modular refinery is located at Tomaro Island Port, off Takwa Bay in Amuwo-Odofin Local Government Area of Lagos State.

source: pulseng