^^ kobo, if u own a part of nairaland,even if major, nairaland then sets up Royal, a venture with Lindaikejiblog, royal subsequently sets up another venture HOME-CARE, with Bella-nigeria, of which u -Kobo might not be in the management . would u comfortably make statements regarding HOME-CARE ?


the truth is these venture firm undeniably can be dodgy.

Like I said,they will swallow their vomits. Shebi they think it's is useless MOU's that they are signing? Some of them will be employed in those firms and go home singing a new song(swallowers).

macjive01: ^^ kobo, if u own a part of nairaland,even if major, nairaland then sets up Royal, a venture with Lindaikejiblog, royal subsequently sets up another venture HOME-CARE, with Bella-nigeria, of which u -Kobo might not be in the management . would u comfortably make statements regarding HOME-CARE ?


the truth is these venture firm undeniably can be dodgy.

Again, You are told Vulcan Capital, Corp, is NOT the company that this deal was signed with. Any deal signed by a sub-company rolls up to the main company. So, either he signed it with the Paul Allen company or any of the other companies out there with similar names. There is really no need to debate this as all we can do is investigate as many as we can until we find the very company it is. And NO, you are not going to succeed in shoving the one you want down my throat. Look through the first couple of pages to understand that those who have tried have only failed at that.

The Phone number of the company is right there for you to call. Call them and ask if you do want to know the truth. And this is something people should get in the habit of doing.

macjive01: ^^ kobo, if u own a part of nairaland,even if major, nairaland then sets up Royal, a venture with Lindaikejiblog, royal subsequently sets up another venture HOME-CARE, with Bella-nigeria, of which u -Kobo might not be in the management . would u comfortably make statements regarding HOME-CARE ?


the truth is these venture firm undeniably can be dodgy.

My Guy.......

Paul Allen's Vulcan is not related to the "Vulcan entity or entities" that signed that MOU, you were told News outlets will be correcting. A link has been provided to Reuters "correcting" their erroneous reporting, all other reputable news outlets have also updated:

http://af.reuters.com/article/nigeriaNews/idAFL6E8I2GKX20120702

culled from the link:
(Corrects company name to Vulcan Petroleum, which is not related to Paul Allen's Vulcan Energy)

You will note the original Reuters article was dated 2 July 2012, so after June 26.

Vulcan Capital (Paul Allen's vehicle) will not be releasing a Nairaland specific update nor updating its news feed for the sake of Nairaland doubters....

So, believe what you will.

VoodooDoll:

My Guy.......

Paul Allen's Vulcan is not related to the "Vulcan entity or entities" that signed that MOU, you were told News outlets will be correcting. A link has been provided to Reuters "correcting" their erroneous reporting, all other reputable news outlets have also updated:

http://af.reuters.com/article/nigeriaNews/idAFL6E8I2GKX20120702

culled from the link:
(Corrects company name to Vulcan Petroleum, which is not related to Paul Allen's Vulcan Energy)

You will note the original Reuters article was dated 2 July 2012, so after June 26.

Vulcan Capital (Paul Allen's vehicle) will not be releasing a Nairaland specific update nor updating its news feed for the sake of Nairaland doubters....

So, believe what you will.

JESUS!!! THAT MEANS NA HEAVY ENTER WE DON ENTER BE THAT!!!!

VoodooDoll:

My Guy.......

Paul Allen's Vulcan is not related to the "Vulcan entity or entities" that signed that MOU, you were told News outlets will be correcting. A link has been provided to Reuters "correcting" their erroneous reporting, all other reputable news outlets have also updated:

http://af.reuters.com/article/nigeriaNews/idAFL6E8I2GKX20120702

culled from the link:
(Corrects company name to Vulcan Petroleum, which is not related to Paul Allen's Vulcan Energy)

You will note the original Reuters article was dated 2 July 2012, so after June 26.

Vulcan Capital (Paul Allen's vehicle) will not be releasing a Nairaland specific update nor updating its news feed for the sake of Nairaland doubters....

So, believe what you will.

Is that why the lady on the phone told me they would get back to me with information on this.

[url]
http://www.thenigerianvoice.com/nvnews/23650/1/nnpc-chinese-firm-to-build-285bn-greenfield-refine.html[/url]

NNPC, CHINESE FIRM TO BUILD $28.5BN GREENFIELD REFINERIES
By NBF NEWS


A Greenfield refinery
The Nigerian National Petroleum Corporation and the China State Construction and Engineering Corporation Limited on Thursday signed a Memorandum of Understanding to raise $28.5bn for the construction of three new Greenfield refineries and a petrochemical complex in different locations in Nigeria.

A Greenfield refinery is one that is low in carbon emissions, almost to zero level, and complies with the new clamour for environmentally-friendly infrastructure in line with the Kyoto protocol.

The projects will be executed under a Contractor Financing and Supplier Credits scheme from the China Export and Credit Insurance Corporation and a consortium of Chinese banks.

One of the refineries will be sited in Lekki, Lagos, while another plant will be located close to the Brass Liquefied Natural Gas in Bayelsa State so that it can leverage on the feed stock that will be produced by Brass LNG and other industries that will be co-located there.

The third one will take advantage of the dredging of the River Niger at Lokoja, Kogi State.

However, the search is still on for a suitable location for the petrochemical complex along the National Gas Corridor, based on the Nigeria Gas Master Plan.

The interest of the CSCEC in the project is to expand its presence on the African continent and establish its footprint firmly on the growing Nigerian oil and gas landscape, according to the Vice-President, Overseas Operations of the company, Mr. Yu Zhende.

The Group Managing Director, NNPC, Mr. Shehu Ladan, expressed hope that the project would stem the flood of imported refined products into the country, currently estimated at $10bn annually.

He further explained that on completion, the three Greenfield refineries would have 750,000 barrels of crude oil per day refining capacity and position NNPC to engage profitably in the international trading of refined petroleum products.

Similarly, the proposed petrochemical complex will source natural gas from the Nigerian Gas Master Plan corridor to produce polymers, solvents and gas-based fertilizers to boost agricultural production.

According to the GMD, 'The China State Construction and Engineering Corporation will build the plants with loans it will raise from China; 100 per cent of the loan.

'They will take 80 per cent of the share and we will take 20 per cent and all the conditions will be agreed upon.'

On differences that would exist in the management structure of the new plants from the existing refineries, Ladan stressed that the current plants were owned by the Federal Government and being operated by NNPC on behalf of the government.

He said that the Federal Government would not have shares in the proposed plants, but NNPC would buy into them with its own funds.

He said, 'The entire budget will be funded by loans sourced by the Chinese partners, so the terms of the loans will be spelt out and the payment period.

'And they will operate the plants together with us. It is only when we pay back the loans after some years that we can perhaps talk about taking over the interest of the construction companies.'

On the timelines for completing the plants, Ladan said plans were afoot to start the first refinery this year and complete it within five years.

He explained that raising the loan would take time, saying the funds could be available, but the terms of agreement would have to be negotiated.

The GMD further explained that with the size of Nigeria, its growing population and sophistication, it was likely that the three planned refineries might not be able to satisfy local consumption very soon.

He said, 'We should also be looking outward to export. Nigeria should be exporting refined petroleum across the West African sub-region and other countries.

'Our dream will be that one day, we will have export oriented refineries and as we locate them at various parts of the county, other state governments will also be called upon to join.

'It is not like we are closing the door of participation to other state governments.'

The GMD also highlighted the technical capability of CSCEC, noting that it was currently ranked as the sixth largest engineering and construction company in the world.

HOW MANY BARRELS OF OIL IS BEING REFINED FROM SUCH REFINERIES, OVER 2 YEARS AFTER?

Can they stop deceiving themselves and some gullible nigerians? Shame on the PDP government. The rubbish optimism news was in early 2010

^^^ If you pull all the MOUs signed during this administration alone, e fill paper. Many of them we never hear of for so many years to come.

Here is information about the Greenfield MOU again. Not sure when next we go read of am

http://www.thisdaylive.com/articles/greenfield-refineries-funding-fg-s-approval-stall-new-take-off-date/119712/

I hope we do not give up on this endeavor . .. . we will have ourselves to blame if we continue to allow those in Government hood-wink us. If only we could get our media to do a better job next time.

Some points to note for bored readers

1. Beaf knows this story is a FAT lie

2. We all know GEJ's government WILL NOT build any refinery before he leaves Aso Rock

3. Beaf is well aware Boko Haram is still active even though GEJ promised a June 2012 end date, He is also aware that GEJ promised 6000MW of elcetricity at some point and that has not been achieved and thus has a record of NOT fulfilling his promises.

4. We are all desperately hoping that somehow GEJ will succeed and put this country on the right path. However, what we do know is that he is desperately doing all he can to not fulfil our hopes

*VULCAN my enriched black a**. . . Next Please!

VoodooDoll:

My Guy.......

Paul Allen's Vulcan is not related to the "Vulcan entity or entities" that signed that MOU, you were told News outlets will be correcting. A link has been provided to Reuters "correcting" their erroneous reporting, all other reputable news outlets have also updated:

http://af.reuters.com/article/nigeriaNews/idAFL6E8I2GKX20120702

culled from the link:
(Corrects company name to Vulcan Petroleum, which is not related to Paul Allen's Vulcan Energy)

You will note the original Reuters article was dated 2 July 2012, so after June 26.

Vulcan Capital (Paul Allen's vehicle) will not be releasing a Nairaland specific update nor updating its news feed for the sake of Nairaland doubters....

So, believe what you will.

Your intervention here is timely, although the foreboding news you bear is rather alarming.
Anyone who happens to be result-oriented would be quite worried about the rather poor reputation that trails Vulcan Energy International, LLC in and out of court rooms in the USA and beyond.
There is plenty of evidence to keep the doubters occupied on the web, but here is an account that covers the company's antecedents in a different Independent Power Plant (IPP) project in Sokoto back in 2008.

THURSDAY, JANUARY 6, 2011

FAITH’S CHICKENS “ - The Story of Fraud and Incompetence in the Sokoto State IPP”

This is one of the countless stories of the pervasive greed, fraud, and corruption practiced daily by contractors both indigenous and foreign in Nigeria’s power sector.

It appears a major fraud is being perpetrated upon the citizens of Sokoto State in the construction of an Independent Power Plant (IPP) by United States based Vulcan Capital Management Company. The project originally touted to be completed an producing power within six months has stretched to over a year with no realistic date set for the State to receive power from the facility.

The citizens of Sokoto State should not be misled by the arrival of equipment to construct the IPP, the equipment is second-hand, dated, used, and not up to standard; simply put it is not what the citizens of Sokoto State paid for or what they were promised.

Technically, the equipment was not designed to run on the reported fuel source without some major modifications, which have not been budgeted. The hole in the ground that Vulcan is calling the foundation for the power plant, was constructed without any geotechnical data, that hole was constructed to misled the citizens of Sokoto that progress was being made at the jobsite. The foundation was designed before the equipment was sourced, it is not a true foundation, just a hole in the ground that will have to buried and redesigned to mount the useless equipment to further perpetuate this fraud.

There are no construction drawing to date for the project. Vulcan is truly clueless as to how to build a power plant, at least one that works. In a letter, from the Sokoto State Government to Vulcan, dated November 4, 2009 with reference number SSG/9014/13/VOL.I/P. The Sokoto State government is still requesting basic information from Vulcan regarding technical specifications, including designs for the 30 MW IPP.

From the beginning the project has been rack with massive amounts of financial fraud with Vulcan blaming its “local content partner” Elvaton, and Elvaton placing the blame squarely on Vulcan. What is known is that well over N150,000,000,000.00 which should have gone to project development cost was spent on things not related to the project.

The relationship between the companies has deteriorated to the point that Vulcan’s CEO approached the US Embassy in Abuja to place the CEO of Elvaton on its watch list of Nigerian’s to be denied US visas. Upon being granted an interview for a US visa the CEO of Elvaton was grilled by consular staff officer’s and literally confessed to the machinations taking place regarding the project; he was of course denied a visa to travel to the US.

So much money was misappropriated by the Vulcan Elvaton alliance from the initial multi-million naira mobilization that when it came time to perfect the Skybank Letter of Credit “LC” for the second traunch of cash neither company, for a period of five months, could raise USD$150,000.00 to perfect the LC. The project languished for five months due to a lack of USD$150,000.00. The project site became dilapidated, weeds grow, fences crumbled and Sokoto State officials started to became alarmed. The Daily Trust, a Nigerian newspaper, voiced the people’s concern over the delay’s in the following article dated 18 Nov 2009.

Sokoto Residents Decry Power Project Delay
Sokoto — Concerns are being raised over the delay in the commencement of the N3.8 billion Sokoto independent power project .Residents of Sokoto say the project is behind schedule and may not see the light of the day.

The state government had last year entered into an agreement with a United States based Vulcan Capital Energy for the establishment of an Independent Power Plant (IPP) in the state.

Our correspondent who visited the site of the project along the Kalambaina Industrial layout, Arkila, reports that no work is being done there.

It would be recalled that the Secretary to the State Government Alhaji Sahabi Isa Gada had while signing the contract on behalf of the government said the state had the desire to effectively build a solid foundation for industrialization, saying that could not be accomplished without adequate power supply.

Speaking on the delay in the commencement of the project, Commissioner for Information Dahiru Maishanu said everything possible was being done to address the situation. He said the government was determined to actualize the project.

In desperation the CEO of Elvaton approached his fiancé for a short-term loan to perfect the LC. The fiancé was promised an immediate return of her money, interest, and a small profit for the loan, the promise, according to the CEO of Elvaton was based on a guarantee Vulcan had given to Elvaton for repayment of the money upon perfection of the LC.

The fiancé used one her rental properties to secure the loan from Union Homes, which was granted, an she dutifully gave the money to Elvaton.

Upon perfection of the LC, the blame game started in earnest between Vulcan and Elvaton, with Elvaton claiming that Vulcan reneged on the terms and amount of the repayment to Elvaton for securing the money to perfect the LC, and Vulcan claiming that it repaid its debt in full to Elvaton.

The dutiful and faithful fiancé was never repaid her money; Union Homes is now the owner of her prized rental property, located along the airport road, due to her failure to repay the loan.

This type of behavior is not new to Vulcan in its business dealings with people or institutions, it is very much typical of their historical business practices; one only needs to do a cursory Google search to find the posted warnings about this company and its executives. I note the following as an example:




[b]Author: Vulcan Capital - WARNING!
Tue Jan 13 21:08:17 2009
To whom it may concern, please be advised that Ford Graham and Kevin Davis are involved in a lawsuit for non-performance of a similar contract in the United States. The BGT Group, Inc. provided Vulcan Capital with over $6 Million of money and equipment to build three components of a power plant. The contract was never completed by Vulcan, The BGT Group, Inc. was forced to file a lawsuit, and contact the FBI to pursue a criminal investigation. Ultimately, The BGT Group, Inc. manufactured the plants on their own; however, they are still involved in the lawsuit against the Vulcan entities (Ford Graham and Kevin Davis) and in communication with the FBI regarding this matter. Over the years, there are several other actions against various Vulcan entities of a similar nature. It would seem that, Vulcan Capital Energy is a new company created by Ford Graham and Kevin Davis to distance themselves from various (negative) past activities. Public records will show the various lawsuits against the numerous Vulcan entities. Moreover, we have come to understand that Ford Graham, Kevin Davis, and Vulcan Capital Energy are in no way associated with Paul Allen and his respective companies. The Sokoto State Government may want to accomplish a background check prior to giving these people any monies.

Vulcan has not paid its onsite contractors, its sales staff, or the rent on its Abuja compound; the contractors have threaten to seal the jobsite until they are paid, and Vulcan has written bogus checks to their major contractor. The contractor has taken Vulcan’s jeep’s and other vehicles, and is threatening to take the bogus checks to EFCC for enforcement action, which they may have already done.

This could account for Ford Graham’s, Vulcan’s CEO, long disappearance from Nigeria since September 09, when he left the country stating that he would return within two weeks. Vulcan’s in country manager Jim Mansfield, more about this sick bastard later, arrived back in the country in January, he could reportedly face arrest due to being the signer of at least three of the bogus checks, as well as facing pending forgery charges lodge against him to the Ministry of Immigration related to his false work visa and other bogus credentials.
It gets worse, the expats hired by Vulcan don’t have valid work visas, they haven’t been paid in two months and refuse to go back to Sokoto until paid in full. The work visa the expats are holding is the subject of the forgery mentioned earlier. Reportedly, additional expats will be arriving from the US this month to work in Sokoto, they will enter the country on 6 month tourist visas.

This is a complete disregard for Nigeria’s work laws, tax code’s, and immigration statues. This disdain for following the rule of law, typical for Vulcan in developing countries, places the power project in further peril from the jobsite being shut down by Nigerian Immigration authorities.

Even if the project is allowed to progress with all the cited flaws it is still doomed to failure unless the Sokoto State government takes immediate action to suspend Vulcan’s contract and hire a reputable firm to complete the project.

Author: Cockroach
Thu Feb 5 00:09:16 2009
This is a huge mistake. Dont trust Vulcan Capital. They will take your money then bankrupt the corporation and create a new one. They do not know how to build power plants to run...

FAITH

The sad truth about the contract to build the IPP is that a well fed mangy mongrel dog name Faith would have benefited more from the contract than 99.99% of the citizens of Sokoto State.

While the people of Sokoto State struggle for their daily bread, Faith feasts on prime hand rub herb chicken roasted daily for her exclusive consumption. While the people of Sokoto toiled daily to over come extreme poverty, Faith lives a very pampered life in a fabulous mansion in one of Abuja’s most exclusive residential communities, her private suite complete with a luxurious king size bed, large screen high-definition television, Bose surround sound system and many other world-class amenities of which most indigenes of Sokoto State will never experience or even hope to have. While the indigenes of Sokoto State suffer greatly from a lack of health care, Faith’s doctor makes personal house calls to ensure her health and well being.

Often one can hear Faith’s owner Jim Mansfield, Vulcan’s in-country manager, screaming at the house staff that “these chickens are for Faith, they are FAITH’S CHICKENS and anyone caught eating one of Faith’s chickens will be fired.”

When Faith comes into heat and starts to bleed she is allowed to roam her mansion freely, leaving a blood trail to mark her travels. Guest and visitors have often been observed stepping over one of Faith’s blood trails with very puzzled expressions on their face. Complaints of this behavior from the staff are not tolerated, you can only follow the dog with a mop and bucket of water to clean her bloody mess. Jim, says the ants may bite Faith if she is allowed to sleep outside, that the rain frightens her, and that she cannot tolerate the sound of thunder. The bowl that Faith eats from is keep uncovered in the refrigerator along side food which will be prepared for guest and visitors.

The staff will often quietly and in hushed whisper’s complain that Faith eats and lives better than they and their families, better than most Nigerian’s. They simply can’t fathom how or why an individual can spend more money on a weekly basis than they earn in six month’s to maintain a dog in such a life style. They don’t understand their struggle to earn school fee’s to educate their children, while an individual spends their country’s wealth to teach his dog tricks. They can’t grasp the mentality of an individual who would flaunt his wealth on a dog while so many Nigerian children scream daily due to the pains of hunger. They are astounded and dumbfounded at the level of insensitivity displayed by this individual; so much wealth and compassion extended to a dog, in a country with one of the world’s shortest life expectancy’s and highest rates of infant mortality.

Faith’s privileged life is all thanks to the misspent money derived from the hard working, poor tax paying citizens of Sokoto State.

JIM

Jim, a sycophantic, manic depressive individual, upon whom the dignity of being called a man cannot be bestowed, could not be employed in the US or Canada as a Director of any serious company, yet he appears to be the ideal Vulcan prototype employee, a company with a documented history of sending the most unqualified people they can find to project sites. As a reference I give you following internet posting

Author: Vulcan Corporate
Fri Feb 6 11:59:53 2009
Sokoto Government,
Before you proceed with Vulcan Capital do some reference checks on the employees who are providing services for them. On Vulcan Capitals last contract they convinced the parole board to let one of their employees out of jail to complete a contract. Since then the employee was busted for trafficing cocaine and now is in jail. Vulcan Capital is known for hiring unprofessional or under educated employees. Another example is when they had a contract for a power plant project in Iraq. Their project manager that was hired, took over a year to find one simple fault, this costed the contract and later Vulcan Capital was sued and lost over it. Vulcan Capital, Ford Graham are not to be trusted they are millions of dollars in debt. Watch my words. your contract will not be completed there will be some issue that arises, and they will blame you for it. They love going to court but most of the time they lose. If you can also be of assistance tell Vulcan Capital to pay their employees back wages that are owed. They only care about themselves.

A vile sick man whose hatred of Nigeria and Nigerian’s is practiced daily; in his opinion all Nigerian’s are corrupt, stupid, thieves. His venom has been spewed in faces of Ibo, Yoruba, and Hausa; his disdain on the Ijaw, Tiv and other indigenes who dare question his opinion of their culture and country.

When questioned by one of the expat project engineer’s about the lack of geotechnical data for the design of the foundation, his response was “ don’t ever mention geotechnical again, we are not dealing with intelligent people they know nothing of geotechnical requirements”.

He curse’s and scorns the very existence of Nigeria as he sucks from her bounty to pamper his dog.
He has lied so much as to the true state of the Sokoto IPP, that even he admits that Sokoto State government officials no longer consider him credible. He says that the only reason Sokoto State officials still meet with him is to entertain themselves listening to his lie’s on behalf of Vulcan.

Read More

OH MY GOSH!!!!!

@e-guerilla, thanks for the expose!, my wish is that more innocently gullible Nigerians comes to their sense of reasoning and see through the ruse, the FG daily offers them.

It is really disheartening to see some Nigerians excited over the kind of information the OP posted.

emiye: @e-guerilla, thanks for the expose!, my wish is that more innocently gullible Nigerians comes to their sense of reasoning and see through the ruse, the FG daily offers them.

It is really disheartening to see some Nigerians excited over the kind of information the OP posted.

Those in Government need to be made aware of their blunders. Why in the world would this company be allowed to continue in the country after the debacle in Sokoto without so much as an investigation? Especially if it did not pay back some of the money it got for not doing a good job there.

Anyone with media contacts? This Vulcan deal needs to be exposed.

Anyone in NY able to help us? YOu can call SaharaReporters to go with you.

The ruthless opposition has set many obstacles to stop GEJ from achieving anything. they have an elaborate media campaign that keeps the public focused on only the short comings of this government. Anyone who cares to search, will see a lot of positive development that has happened under GEj.

Beaf, thank you for sharing this. People should know that Nigeria must grow. no matter how they claim to hate GEJ, he still has millions of supporters who are waiting for the results of the present work to show before they start their own noise.