Three Nigerian refineries planned for building
in Business » Nigeria Economy
There has been progress in the construction of one of three new Nigerian oil refineries.
The refineries, which are being planned as a way of reducing imports of refined petroleum products, should cost around $25 billion dollars.
A memorandum, signed in May 2010, proposed the building of three refineries with money from Chinese banks.
The memorandum is between the Nigerian National Petroleum Corporation and a Chinese consortium which will jointly seek financing for the construction of three new refineries and a petrochemical plant.
The refineries are planned for Lagos in the southeast, the central state of Kogi, and in Bayelsa, which is in the oil-producing Niger Delta.
Source: Web
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