Gulf Guinea build methanol plant in Nigeria

Gulf of Guinea to build methanol plant in Nigeria

9:37 AM, 21st November 2012
Gulf of Guinea to build methanol plant in Nigeria

ABUJA, NIGERIA: Gulf of Guinea Oil Exploration Limited (GGOEX) is investing N109.02 billion ($700 million) in the establishment of a methanol plant in Nigeria. According to the company, it is currently processing a Due Diligence Assessment with the Gas Aggregation Company of Nigeria (GACN) and is also in discussions with the Federal Government of Nigeria.

The company said that the plant, with a capacity of 850,000 metric tonne of methanol productions will be the largest in Africa, adding that the company has selected the Mitsubishi Methanol Process (MMP) as process technology for the establishment of the plant. The new plant is expected to come online in 2015.

The company noted that the project will be the first commercial-scale installation of the MMP process in Methanol production technologies in West Africa and would be located at the Gas Industrial park in Delta State. The company further stated that the cost of the project will be debt-equity financed by the International Financial Corporation (IFC) and fund syndication from local banks.

© Vanguard News 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


AFPM urges EPA to increase biomass-based diesel volumes

WASHINGTON DC, US: The American Fuel & Petrochemical Manufacturers (AFPM) filed a petition for reconsideration of the Environmental Protection Age ...

Read more
KBR to execute oil sands tailings project for Syncrude Canada

HOUSTON, US: KBR announced it was awarded two contracts for Syncrude Canada Ltd to execute module fabrication and field construction for its fluid fin ...

Read more
BASF to buy omega-3 fatty acids maker, Pronova BioPharma

LUDWIGSHAFEN, GERMANY: BASF plans to acquire Pronova BioPharma ASA, Lysaker, Norway, a pioneer in the field of research, development, and manufacturin ...

Read more
Praxair’s airframe coatings deal with Messier-Bugatti-Dowty in Asia

INDIANAPOLIS, US: Praxair Surface Technologies Inc, wholly-owned subsidiary of Praxair Inc, has entered into a 10-year agreement with Messier-Bugatti- ...

Read more
New anti-freeze molecules discovered, prevents ice formation below 32 F

NEW YORK, US: New York University (NYU) chemists have discovered a family of anti-freeze molecules that prevent ice formation when water temperatures ...

Read more
Songwon’s thioester antioxidants JV operational in China

ULSAN, KOREA: Songwon Industrial Co Ltd and Tangshan Baifu Chemical Co Ltd joint venture has formed a new company, Songwon Baifu Chemicals (Tangshan) ...

Read more