Nigeria oil refinery
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 about $10-billion to develop.
Duration
The refinery is scheduled to come on stream in 2019.
Latest Developments
Nigerian business magnate, Aliko Dangote, has signed a $650-million loan facility with the African Export-Import Bank (Afreximbank) for his oil refinery project.
The seven-year term loan will attract a moratorium of five years, according to a facility terms read-out during the signing.
The company will also borrow $3.3-billion for the project, arranged by Standard Chartered Bank. The remainder will be funded by equity and through export agencies.
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.
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