The Nigerian Government is billed to meet with Chinese investors on the multi-billion dollars Greenfield refineries in Nigeria after which the Final Investment Decision (FID) on the installations would be made.
Minister of Petroleum Resources, Diezani Alison-Madueke who confirmed this revealed that the comprehensive feasibility study on the installations would be ready very soon.
Series of meeting, Alison-Madueke said, has been held between the government and its partner, a consortium of Chinese companies over the refineries.
The China State Engineering and Construction Company (CECC), world sixth largest engineering and construction company, has, in collaboration with the Nigerian National Petroleum Corporation (NNPC), begun intensive preliminary designs for Greenfield refinery projects in Lagos, Kogi and Bayelsa states of Nigeria.
The minister said that presently feasibility study of the field is ongoing; adding that once completed the Chinese company will commence operation.
She added that in the next three months from now the ministry would commence total Turn Around Maintainace (TAM) of the country’s refineries.
“We are going to commence an intensive turn around maintenance in all our refineries so as to produce more products in other to meet up our daily consumptions.
“We are planning in the next two to three years from now to scale down importation products into the country,” she said
China, it would be recalled said that Chinese investors would take up at least 25 per cent of the equity holding in the three new refinery projects inNigeria.
The leader of the Chinese delegation and Vice President of CSECC International division, Yu Zhende. who, according to a statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Levi Ajuonuma, stated that his company would “not only assist in sourcing for funds on competitive terms for the project but is also expected to ensure that bona fide Chinese investors take up at least 25 per cent of the equity holding in the project.”
