Nigerian conglomerate BUA Group has selected France’s Axens for a multibillion-dollar 200,000 barrel per day (bpd) refinery and petrochemicals plant in Nigeria, the French company said in a statement on Tuesday, according to Reuters’ report.
Axens, which makes systems to convert oil and biomass to cleaner fuels, said it will provide technology for the greenfield project designed to produce Euro-V fuels and polypropylene targeted at domestic and regional markets.
Nigeria, Africa’s top oil exporter, aims to become a net exporter of gasoline and other petroleum products over the next two years as refinery projects in the West African country come on stream, the industry regulator said on Tuesday.
“This large complex will help in reducing Nigeria’s dependence on imported fuels and petrochemicals,” said BUA, which also has interests in cement, food and mining.
The BUA project will be located in Nigeria’s oil-producing region of Akwa-Ibom state, the statement said.
A separate 650,000 bpd oil refinery, owned by Africa’s richest man, Aliko Dangote, is already under construction in Lagos.