The Governor of Edo State, Mr. Godwin Obaseki, on Wednesday in China, signed a Memorandum of Understanding (MoU) with a Chinese consortium for a 5,500 barrel per day modular refinery in Edo State, Vanguard reports.
The Chinese consortium that will handle the modular refinery is made up of Peiyang Chemical Equipment Company of China (PCC), a world leading modular refinery company; Sinopec International Petroleum Service Corporation (SIPS) which is a subsidiary of Sinopec, the top chemical giant in the world and African Infrastructure Partners (AIP), a Nigerian infrastructural company. The first phase of the project will be ready within twelve (12) months after all the necessary approvals are granted by the regulatory authorities.
The MoU signing ceremony for the refinery took place at the Sinopec headquarters in Beijing, China. The project will be executed in two phases; phase 1 consisting of a 500bpd demonstration refinery and phase 2 consisting of a 5,000bpd capacity refinery. The PCC will also serve as the Operations and Management company that will manage the refinery before transferring it to the local investors. The demonstration refinery will serve as proof of concept and to train the indigenes in the management of the refinery.