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Dangote’s $15Bn Oil Refinery Would Lessen Dependence On Imported Fuel

Unic Press UK: Dangote’s $15 billion oil refinery, which is expected to be completed in 2020 with a 650,000 barrels-per-day capacity, would lessen Nigeria’s age-long extensive dependence on imported premium motor spirit (PMS).

Dangote's $15 billion oil refinery

Dangote’s $15 billion oil refinery

Speaking to the journalists who toured the site of Dangote’s $15 billion oil refinery in Lagos, the company’s Executive Director of strategy and capital project, Devakumar Edwin said:

Ninety-five percent of engineering has been completed, 90 percent of procurement has been completed. We started civil works in July last year and we have scheduled 2-1/2 years for mechanical completion. Our petroleum refinery is going to have a major beneficial impact on the economy in terms of foreign exchange savings. The biggest consumers like China and India have reduced their demand because they could get similar products. With the refine capacity of 650,000 barrels per day, the refinery will give an assured market for the Nigerian crude,” the News Agency of Nigeria reports.

The oil facility would be powered by gas via two 550-kilometer (341.7-mile) underwater pipelines.

On completion, the oil facility would be one of the largest single line, with would also have a petrochemical plant; and a $2.5 billion fertilizer factory with 3 million metric tons of urea and ammonia per year capacity; and a 1.3 million metric tons per annum of polypropylene and polyethylene, the Dangote Group chairman, Aliko Dangote said in 2018 during an interview with Bloomberg’s Francine Lacqua.

 

 

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