BUA Group, one of Africa’s leading Foods, Mining, & Infrastructure conglomerates, yesterday signed an agreement with Axens of France for the supply of process technologies for its upcoming 10million tons per annum megarefinery and petrochemicals facility to be sited in Akwa Ibom State.
This multi-billion-dollar integrated 200,000 bpd refinery and petrochemical plant aims at producing Euro-V fuels and polypropylene for the domestic and regional market. According to BUA, Axens was selected after a comprehensive process, for its advanced technology licences, basic engineering, catalysts & adsorbents, proprietary equipment, training and technical services. The landmark agreement was signed between the Chairman of BUA Group, Abdul Samad Rabiu, and the CEO of Axens, Jean Sentenac, in a ceremony presided over by France’s Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester.
Rabiu said: “This 10million tons per annum refinery & petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add most value and where raw materials can be sourced locally. Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, jet fuel meeting Euro-V specifications for the Nigerian market and the larger region. In addition, it will produce propylene, an essential component for the petrochemical industry used in polypropylene-based plastics and packaging. This project will help in reducing Nigeria’s dependence on imported fuels and petrochemicals.
“It is in the DNA of BUA Group to create efficient, innovative and sustainable businesses; look at our cement plants, the most sustainable in Nigeria, same with our sugar plants.”
Sentenac said: “We are delighted to be part of this strategic project providing the most advanced technologies on the market that are energy-efficient and ensure the production of high-quality fuels and petrochemical intermediates. This state-of-the-art integrated complex will allow BUA Group to develop its refining and petrochemical capabilities in Nigeria and produce highly valuable products for the domestic market.”
It is a great pleasure and a pride to partner with them to concur to develop Nigerian economy and ensure the success of this strategic state of the art project”.
