BUA Group, one of Africa’s leading foods, mining and infrastructure conglomerates, has signed an agreement with Axens of France for the supply of process technologies for its upcoming 10 million tonnes per annum megarefinery and petrochemicals facility to be sited in Akwa Ibom, Nigeria.

This multibillion 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 after a comprehensive process, for its advanced technology licenses, basic engineering, catalysts & adsorbents, proprietary equipment, training and technical services.

The landmark agreement was signed between the Chairman of BUA Group, Abdul Samad Rabiu, 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 the “10million tonnes per annum refinery & 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.”, Mr Rabiu added.

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 a pride to partner with them to concur to develop Nigerian economy and ensure the success of this strategic state of the art project”.

FriendNG:


https://www.premiumtimesng.com/business/business-news/411959-bua-group-to-build-200000bpd-refinery-and-petrochemical-plant.html

uruba23:
Copy Cat DNA always copying Alhaji.Oga Rabiu they are other sectors you can focus on.

fulanimafia:


There is nothing wrong in copying success.

We need more Abdulsamads and Alikos from all parts of the country to build more factories and refineries for the economic development of Nigeria through job creation, import substitution, forex generation etc.

Kudos to our enterprising brethren.

uruba23:

Hmmm I like the first sentence it is deep, but he should not be a headache to Alhaji.He should copy with style.

uruba23:
Copy Cat DNA always copying Alhaji.Oga Rabiu they are other sectors you can focus on.

michlins:
If you get money, invest in refineries even if na 10 barrels per day something. Once dangote finishes his own, they will ban fuel importation and he alone will corner the market for himself. We will cry monopoly but he will get richer and there's nothing anyone can do about it

fulanimafia:


Lol.

As long as the global demand for fossil fuels exists, there will be a ready market for both of them.

There is enough space in the sky for all birds to fly.

darfay:
Too bad

The hausas have monopolized our oil first dangote and now this? They successful frustrated others out of this. A wealthy urhobo dude wanted to go into a Jv to set up a refinery in Delta state but the Hausa cabals frustrated him and oh the guy is dead now.

comos:
The Inspector-General of Police, Mr. Ibrahim Idris, on Friday justified the arrest of only suspects of Yoruba extraction over the recent clash in Ile-Ife, Osun State, which resulted in the death of about 46 persons. He said crime neither has tribe nor identity.

Idris spoke with State House correspondents shortly after briefing President Muhammadu Buhari of security situations in parts of the country inside the Presidential Villa, Abuja.

The police had been in the eye of the storm for arresting and parading 20 Yoruba persons, including a monarch, over the clash while not a single Hausa/Fulani person was detained.

The pan-Yoruba group, Afenifere; and the Oodua Peoples Congress are among groups and individuals that have been criticising the police over the development.

Idris however said the police would not hesitate to apply the law once criminal cases are established against individuals, irrespective of their tribe.

He said, “You know we are police officers. Crime has no tribe. If you are a criminal, you are a criminal.

“Crime has no face. We don’t look at crime in the identity of where you are coming from.

“As far as you are a criminal and the police find you wanting, we apply the law.”

He said investigation had revealed that the crisis started with a disagreement between two people selling food along the road.

https://punchng.com/ife-clash-igp-justifies-arrest-of-only-yoruba-suspects/

anonimi:


Like the other sectors you have focused your billions on

uruba23:
Oga I wasn't addressing you.

Atk1nson:
BUA template for being a successful business man: do whatever Dangote does

darfay:



Considering how uselessly useless oil is going especially in the next 30yrs, is such capital intensive project still advisable?

darfay:



Considering how uselessly useless oil is going especially in the next 30yrs, is such capital intensive project still advisable?

fulanimafia:


It's actually a winning strategy.

You'd be surprised how many investors pay heavily just to copy Warren Buffets trading strategy in the stock markets.