Name of the Project
Nigeria oil refinery.

Location
Nigeria.

Client
Dangote Group.

Project Description
The project entails the construction of a new refinery with a capacity of 650 000 bbl/d.

The refinery and petrochemical complex are located on 25 000 ha of swampy land, with a jetty to ferry products by sea within Nigeria and abroad, including a subsea pipeline to transport gas.

Dangote intends to process different grades of crude to meet local demand for refined petroleum products and also target export markets.

Potential Job Creation
The project is expected to generate thousands of jobs.

Value
The oil refinery will cost between $12-billion nd $14-billion to develop.

Duration
Production is expected to start in 2020.

Latest Developments
Nigerian business magnate Aliko Dangote has arranged more than $4.5-billion in debt financing for his Nigerian oil refinery project and aims to start production in the early 2020s.

Lenders will commit about $3.15-billion, with the World Bank's private-sector arm providing $150-million. Dangote has said he will invest more than 60% from his own cash flow.

Standard Chartered Bank is arranging funds for the project.

"Hopefully, we will finish mechanical (construction) by next year and products will start coming out in the first quarter of 2020," Dangote has said.

Nigeria's central bank will provide guarantees for about N575-billion in local currency for ten years, with the African Development Bank providing a $300-million loan. Trade banks from China, India and some European countries have also committed to the investment, Dangote has said.

Dangote has also recently signed a loan of $650-million with the African Export-Import Bank for the project.

Key Contracts and Suppliers
Mammoet (transportation, lifting and installation of all over-dimensional cargo).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Dangote Group, tel +234 1 448 0815 or email communications@dangote.com.