The management of BUA Group has refuted a purported report claiming that the BUA Refinery and Petrochemicals in Akwa Ibom state is at 90 per cent completion.
A statement issued by the management on Saturday clarified that the 200,000 barrels per day refinery is not yet near completion.
However, the company is committed to meeting the completion timeline for the refinery.
The statement read: “Contrary to a misleading report stating that our 200,000 barrels/day refinery is at 90% completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us.
“As we make remarkable strides on our Akwa Ibom refinery project, we are proud to share that construction is progressing steadily. Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners. This BUA Refinery & Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security.”
The management added that the company’s other energy projects including a mini Liquefied Natural Gas plant, are also undergoing upgrades.
“Our other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country to add additional capacity to our over 1,000MW installed captive power generation capacity, are also progressing rapidly.”
It advised members of the public to verify any news relating to the company through its official channels and platforms so as not to be misled.
“At BUA, we remain committed to transparency and excellence. As we have consistently done with over 12 of our completed mega industrial projects worth over $ 3.5 billion in the past 10 years, we will continue to keep you updated with verifiable and accurate information only where necessary, and as milestones are achieved. We appreciate the public’s interest and enthusiasm for this transformative project as we work together in building a stronger industrial and manufacturing base for a self-reliant Nigeria,” the statement concluded.
What you should know
- BUA Refinery and Petrochemicals, upon completion, will join the list of private refineries in Nigeria. However, the Dangote Refinery located in the Lekki Free Trade Zone, has the highest refining capacity.
- The management had said that it will complete the Refinery by the end of 2025.
- The Group’s management also once noted that the refinery will produce
- Gasoline, Diesel, Jet fuel, and Propylene, a key components for the petrochemicals industry.
