19-10-2018
Dangote refinery project to boost activities in downstream
The President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase has described as magnificent and spectacular the impact the Dangote Oil Refinery project would have on the Nigeria’s downstream petroleum sector.
Ruwase, who led members of the chamber on a tour of Dangote Jetty, Refinery and Fertilizer plants recently in Lagos, expressed excitement over the pace of work at the Refinery and Fertilizer plants, which he described as a game changer for the Nigeria oil sector.
He commended the President/Chief Executive of Dangote Group, Alhaji Aliko Dangote for the enormous investment in Africa, saying, “Dangote’s patriotism remains unparalleled when it comes to investment and that his investments in many sectors have been a key factor behind Nigeria’s improving economy. Dangote is doing so much to positively impact the lives of Nigerians through the production of household products.”
He said the world is waiting for Dangote Oil Refinery project to bail Nigeria out from the clutches of importation of petroleum products. “This project is the first of its kind. There is no investor in Nigeria that has developed the courage to come up with such gigantic project. From what we have seen today, we now have a better perception about the project. From what we have seen on ground, it shows that the project is a reality and it is possible for Nigeria to become exporter of petroleum product,” he said.
He also commended the company for building a jetty to carter for the movement of heavy equipment to the refinery site. “This will greatly reduce the congestion at Apapa port and also help to cut down traffic on the Apapa road,” he added.
Ruwase therefore appealed to other investors to thread the pact of Dangote by investing heavily in the Nigerian economy.
Speaking on the progress made so far, Head, Quality Assurance/Quality Control, Dangote Oil Refinery Company Limited, Rama Rao Putta, described the project as the largest single train petroleum refinery in the world with capacity to process 650,000 barrels per day of crude oil.
He said the refinery will lead to the protection of forex revenue of around $16 billion a year at current market prices and saving of $10 billion a year through domestic supplies of petroleum products.
Putta said that the refinery is going to create 100,000 indirect employments through retail outlets and ease availability of petroleum products in the country.
He noted that the company has completed the training of the first and second batches of Nigerian Engineers in India and that the employees were being acclimatized at site.
Speaking also at the event, General Manager of Dangote Fertilizer Limited, Anurag Jaiswal, described Dangote Fertiliser project as the largest granulated urea fertilizer complex coming up in the entire fertilizer industry history in the world.
He put the investment at $2 billion with capacity to handle three million tonnes yearly.
Jaiswal, said the impact on the economy of Nigeria and the entire region cannot be over-emphasized.
“This is going to be one of the largest single capacity complex in the world producing in total 8,000 tonnes of urea daily. We’ll be having two trains of ammonia and two trains of urea and each train will produce 4,000 tonnes. So in a year it will be 3 million tonnes.
“It is much expensive to import from abroad due to freight cost but it will certainly be cheaper if you are importing from Nigeria. It will have a huge impact on the Nigerian economy because we will be saving a lot of foreign exchange,” he noted.Distributed by APO Group on behalf of Dangote Group.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Audubon launches vapor recovery & reuse system for EPA compliance
Audubon Engineering Company, a leading provider of engineering, procurement, construction, fabrication, and technical services, introduced its patented Vapor Upcycle ...
26-03-2024
-
Koch Modular to expand state-of-the-art pilot plant in Houston
Koch Modular Process Systems, a market-leading provider of engineered and fabricated modular mass transfer systems for the chemical processing industry, announces the ...
26-03-2024
-
TotalEnergies and SINOPEC to produce sustainable jet fuel
TotalEnergies and China Petroleum and Chemical Corporation have signed a Heads of Agreement to jointly develop a Sustainable Aviation Fuel (SAF) production unit at a ...
26-03-2024
-
SABIC and Pashupati group to target recycling opportunities in India
SABIC, a global leader in the chemical industry, has signed a Memorandum of Understanding (MoU) with Pashupati Group, a leading Indian recycler of plastic waste and supplier ...
25-03-2024
-
Karen McKee named 2024 petrochemical heritage award recipient
The American Fuel & Petrochemical Manufacturers (AFPM) is pleased to announce ExxonMobil’s Karen McKee, president of ExxonMobil Product Solutions Company, as the ...
24-03-2024
-
ABB and Cap Clean Energy collaborate to help SAF production take off
ABB has signed an agreement with Cap Clean Energy to collaborate on sustainable aviation fuel (SAF) production sites in the Canadian provinces of Manitoba, Saskatchewan ...
21-03-2024
-
Yokogawa launches OpreX robot management core
Yokogawa Electric Corporation announces the development and release of OpreXTM Robot Management Core, a software application in the OpreX Asset Management and Integrity ...
21-03-2024
-
Samsung Engineering rebrands name to SAMSUNG E&A
Samsung Engineering, a world leading engineering solutions and project management company, announced today, that it will officially changes its name to 'SAMSUNG E&A'. ...
21-03-2024
-
Clariant and Lummus awarded catalyst technology contract for new isobutane dehydrogenation plant
Clariant, a sustainability-focused specialty chemical company, and its process partner Lummus Technology have been selected by Huizhou Boeko Materials Co. Ltd., to provide ...
20-03-2024