…China, AfDB, others to raise 70% total cost
…Targets 35,000 jobs
…Plant to be completed by 2025
By Prince Okafor
The Federal Government has committed an equity investment of $670m for the construction of 10,000 tonnes per day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL).
This came as the two Federal Government’s agencies involved in the project, Nigerian National Petroleum Corporation, NNPC, Nigerian Content Development and Monitoring Board (NCDMB), along with DSV Engineering (an indigenous Nigeria company) sign the Final Investment Decision (FID) for the construction of the project weekend.
Vanguard gathered that the facility would be the largest methanol plant in Africa and the first in Nigeria and the construction phase is expected to create 30,000 direct and indirect jobs and additional 5000 permanent jobs during the operations phase.
Also, the project is…
Source: Vanguard Newspaper