Firm plans 200,000 bar­rels re­fin­ery in Nige­ria

Daily Trust - - NEWS - From Mo­hammed Shosanya,Lagos

Bloom­ing Faith Petroleum Lim­ited, a sub­sidiary of Bloom­ing Faith Global Hold­ings Lim­ited based in Hong Kong has con­cluded ar­range­ments to part­ner with the fed­eral gov­ern­ment to build and op­er­ate a 200, 000 bar­rels per day ca­pac­ity re­fin­ery in Akwa Ibom State.

Chair­man of the com­pany, Dr. Robert Yeung, told news­men at the week­end that his com­pany’s in­ter­est in con­struct­ing the re­fin­ery was boosted by the dis­cov­ery that Nige­ria, a ma­jor oil pro­duc­ing na­tion in the world re­lied on im­por­ta­tion of re­fined prod­ucts to at­tend to its do­mes­tic needs.

Dr. Yeung said their in­ter­est was spurred by the mar­ket in Nige­ria and the con­fi­dence they have as an in­vestors’ des­ti­na­tion of choice in Africa.

Speak­ing, Mr. John Erigwe, the com­pany’s In­ter­na­tional Op­er­a­tions Di­rec­tor stated that the com­pany had the financial ca­pa­bil­ity and tech­ni­cal ex­per­tise to see the pro­ject through, adding that it was deeply in­ter­ested and highly com­mit­ted to in­vest­ing in Nige­ria’s econ­omy.

This de­vel­op­ment made the com­pany to seek the au­di­ence of the lead­er­ship of the NNPC under the Min­is­ter of State for Petroleum re­sources Dr. Ibe Kachikwu to meet and present its ideas and pro­pos­als to the cor­po­ra­tion.

‘’Our re­fin­ery if ap­proved and com­pleted would be sec­ond in size and out­put ca­pac­ity in Nige­ria sec­ond only to the on-go­ing Dan­gote re­fin­ery which we gath­ered would com­mence op­er­a­tions in 2019’’.

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