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Nairametrics
Home People Billionaire Watch

VIDEO: Otedola extols Dangote’s multi-billion dollar refinery project

Damilare Famuyiwa by Damilare Famuyiwa
August 23, 2019
in Billionaire Watch, Business News
billionaires, holiday, Otedola extols Dangote’s multi-billion dollars refinery project

Otedola and Dangote

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Business magnate, Femi Otedola must have been very impressed after seeing Dangote Refinery. In an Instagram post on his handle, Otedola tagged the facility a wonderland. 

Witnessing the arrival of the Heat Recovery Steam Generator (HRSG) for the refinery, Otedola posted that the multi-billion dollars refinery project is inspiring.

https://www.instagram.com/p/B1gsQ_jn6Nh/?utm_source=ig_web_copy_link

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The latest arrival: Going by Otedola’s post, it seems the latest arrival at the site of Dangote Refinery is the HRSG.

[READ MORE: FG sets target for revamping of ailing refineries]

On the off chance that one does not know the functionality of the HRSG, it is important to note that it provides the thermodynamic link between the gas turbines and steam turbines in a combined-cycle power plant. Each HRSG solution is custom-engineered to meet your desired operating flexibility and performance requirements.

Prior to this development, Chinese oil and gas enterprise, China Petroleum & Chemical Corporation, had disclosed that it had shipped a piece of vital equipment which would be installed at the Dangote Refinery. The equipment, ‘atmospheric tower’, is the world’s largest and it set sail on Monday, July 29, 2019.

The Dangote Refinery, when completed, will be the largest in Africa. It is expected to average 650,000 barrels per day. According to Aliko Dangote, the founder of Dangote Group, the refinery which would cost between $12-$14 billion would be completed in 2019, with the commencement of production planned for 2020.

[READ ALSO: Nigerian billionaires, Aliko Dangote and Femi Otedola make Anthony Joshua feel at home]

Meanwhile, there has been uncertainty regarding the commencement date of the refinery’s operations. This is according to Devakumar Edwin, the Group Executive Director of the refinery.

Nairametrics understands that the refinery had earlier been projected to fully commence its operations by the first quarter of 2020. That, however, may no longer be feasible as Edwin disclosed that there are challenges that may see the 650,000 barrels per day (bpd) refinery commence its operations not earlier than the end of next year (2020).


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Tags: Aliko DangoteDangote RefineryDevakumar EdwinFemi Otedola
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Comments 1

  1. Ndukwe says:
    August 24, 2019 at 5:00 pm

    Will Dangote Group offer stock issue on their petroleum?

    Reply

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