IPMAN, South America Investors to Cite N450bn Refinery in Kogi, Bayelsa

What is it about Kogi State that attracts so big business? Dangote Cement, Transcorp’s Sugar Concentrate Biz etc.

Anyway here is the article;

The Independent Petroleum Marketers Association of Nigeria (IPMAN) along with some core investors from Peru, South America, is to cite two petrochemical refineries in Kogi and Bayelsa States.
The Chairman of IPMAN, Bestman Inekwe, who disclosed this yesterday in Lokoja, while paying a courtesy visit to the state governor, Capt. Idris Wada, said the refineries when completed would serve Nigeria, the West and Southern parts of Africa.
Bestman said as businessmen, they (IPMAN) are partnering the federal government to industralise the nation in the upstream and down stream sectors of the economy; which will also open the state to several opportunities.
“As businessmen, we intend to partner the federal government in moving the nation forward using the vast experience of a core investor to create wealth.
“When this project is completed, the amount used in fuel importation by the country, would be saved for other purposes.”
The CEO of the core investor group from Peru; Water Carbon Field Limited, Mr. Joseph Arosemena, said the refineries would cost $3 billion and is expected to be completed in two years.
He also said when completed, the refineries would be known as ‘Creek’ Refinery Company and would produce 200,000 barrel of oil per day.
He said citing the refinery in Kogi State was informed by the state’s strategic location in the country and the peaceful environment it enjoys.
He, therefore, urged the state government to grant them the licence so as to start the project and meet up with the two years expectation.

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