Governor Godwin Obaseki of Edo State, on Wednesday, in China, expanded the portfolio of foreign investments in the state following the signing of a Memorandum of Understanding, MoU, with a Chinese consortium for a 5,500 barrel-per-day modular refinery in Edo State.

This came hours after a similar MoU was signed with China Harbour Engineering Company Limited, in Beijing, China, for the development of the Gelegele Seaport in the state.

MoU SIGNING: (Sitting) From left: Representative of China SINOPEC Consortium, Mr Yang Hongtao; Edo State Governor, Mr Godwin Obaseki; Managing Director, ICMG Securities Limited, Micheal Osime, during the signing of a Memorandum of Understanding (MoU) for a 5,500bpd modular refinery between Edo State Government and SINOPEC of China, at SINOPEC headquarters in Beijing, China on Wednesday.

The Chinese consortium that will handle the modular refinery is made up of Peiyang Chemical Equipment Company of China, PCC, a world leading modular refinery company;   Sinopec International Petroleum Service Corporation, SIPS, which is a subsidiary of Sinopec, the top Chemical giant in the world and  African Infrastructure Partners, AIP, a Nigerian Infrastructural company.

The first phase of the project will be ready within 12 months after all the necessary approvals are granted by the regulatory authorities.

The MoU signing ceremony for the refinery took place at SINOPEC headquarters in Beijing, China, and was witnessed by officials of the Nigerian Embassy in the Asian country as well as staff of    SIPS Nigeria, a major local fabrication company, with a branch in Benin City, Edo State.

Speaking at the event, Governor Obaseki expressed delight at the local content component of the deal, which will ensure that Edo citizens  are trained in welding, refinery operation and fabrication works to enable them participate in the construction of the refinery as well as its operations, post-commissioning.

The governor assured that the refinery construction will provide jobs for several unemployed Edo youths including the Libya returnees who are being evacuated from the crisis-ridden North African country.

Obaseki added that the modular refinery will solve the problem of inadequate petroleum products in the country and will turn Edo State to the preferred source of petroleum products considering the gateway status of Edo State to other parts of the country.

“With the Federal Government of Nigeria’s commitment to support communities in  the Niger Delta states to set up modular refineries, the SIPS fabrication yard in Benin City is expected to be busy handling the fabrication jobs  of modular refineries in the Niger Delta region,” Obaseki said.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.