Nigerias 1st modular refinery american investor to release 200m
You're referring to the news about the modular refinery project in Nigeria!
Yes, you're correct. The Nigerian government has been working on a modular refinery project, and recently, an American investor, Atlantic Energy, has announced plans to release $200 million to complete the project.
Here are some key details about the project:
- Modular refinery: The project involves the construction of a modular refinery, which is a smaller, more efficient, and cost-effective alternative to traditional refineries. The modular refinery will have a capacity to process 32,000 barrels of crude oil per day.
- Location: The refinery will be located in the Niger Delta region of Nigeria, specifically in the state of Rivers.
- Investment: As you mentioned, Atlantic Energy, an American investor, has committed to investing $200 million in the project.
- Timeline: The project is expected to be completed within the next 24 months, with the refinery expected to start operations by 2024.
- Benefits: The modular refinery is expected to create jobs, stimulate economic growth, and reduce Nigeria's reliance on imported refined petroleum products.
This project is a significant development in Nigeria's energy sector, and it's great to see American investors showing interest in the country's economy.