BUA Group, on Tuesday, signed an agreement with Axens of France for the supply of process technologies for its upcoming 10 million tonnes per annum mega-refinery and petrochemicals facility to be sited in Akwa Ibom State.
This multi-billion-dollar integrated 200,000/bpd refinery and petrochemical plant aims at producing Euro-V fuels and polypropylene for the domestic and regional market.
According to BUA, Axens was selected for its advanced technology licences, basic engineering, catalysts and adsorbents, proprietary equipment, training and technical services.
A statement by BUA noted that the agreement was signed between the Chairman of BUA Group, Abdul SamadRabiu, and the CEO of Axens, Jean Sentenac, in a ceremony presided over by France’s Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester.
BUA Group Chairman and CEO, Abdul Samad Rabiu said: “This 10 million tonnes per annum refinery and petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add most value and where raw materials can be sourced locally.
“Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, jet fuel meeting Euro-V specifications for the Nigerian market and the larger region.
“In addition, it will produce propylene, an essential component for the petrochemical industry used in polypropylene-based plastics and packaging.
“This project will help in reducing Nigeria’s dependence on imported fuels and petrochemicals.
“It is in the DNA of BUA Group to create efficient, innovative and sustainable businesses; look at our cement plants, the most sustainable in Nigeria, same with our sugar plants,” Rabiu added.
On is part, Axens’ Chairman and CEO, Jean Sentenac, said: “We are delighted to be part of this strategic project providing the most advanced technologies on the market that are energy-efficient and ensure the production of high-quality fuels and petrochemical intermediates.
“This state-of-the-art integrated complex will allow BUA Group to develop its refining and petrochemical capabilities in Nigeria and produce highly valuable products for the domestic market.
“It is a great pleasure and pride to partner with them to concur to develop the Nigerian economy and ensure the success of this strategic state of the art project.”