BFI Group Signs Agreement With Corporation To Revive Gas Processing Plant
By: Feyisayo Oyebanji, Abuja
BFI Group, the core investor in Aluminum Smelter Company of Nigeria (ALSCON), has signed an agreement with China National Chemical Engineering International Corporation Ltd. (CNCEC) to resuscitate the 135MMscfd Gas Processing plant in ALSCON Plant Ikot Abasi, Akwa Ibom State, with a total estimate investment of about 1.2 billion dollars.
The Minister of State Petroleum Resources Gas, Ekperikpe Ekpo described the agreement as “epoch-making” and a testament to President Bola Tinubu’s commitment to encouraging investments in natural gas utilization for Nigeria’s industrialization, economic growth, and development.
Represented by Permanent Secretary, Ministry of Petroleum Resources, Ambassador Nicholas Ella, the Gas Minister lauded the synergy between BFI Group and CNCEC International, highlighting the Chinese and Nigerian governments’ collaboration for mutual growth and development.
Ekpo expressed optimism that the agreement would expedite actions necessary to restart the Gas Processing Facility, which will be the first phase to restart the ALSCON Plant. He said upon resumption, the plant is expected to catalyze Nigeria’s aluminum upstream and downstream sectors, utilizing natural gas and positioning the country as a major producer in Africa and globally.
Mr Ekperikpe Ekpo congratulated BFI Group and CNCEC International on achieving a significant milestone, trusting that the project will be delivered within budget and on time, given the companies’ pedigree and capacity.
Chairman and CEO of BFI Limited, Dr. Reuben Jaja, said the deal aims to promptly reactivate ALSCON. He praised CNCEC’s commitment to Nigeria’s national planning and industrial development, highlighting their shared goals to efficiently utilize natural gas, reduce carbon emissions, promote energy industry growth, enhance employment opportunities, and accelerate regional economic expansion.
The landmark agreement which was signed on Monday at the Boardroom of the Minister of State Petroleum Resources Gas at the NNPC Towers in Abuja, marks a crucial milestone in ALSCON’s rehabilitation, recommissioning, and expansion.
Dormant for nearly three decades, ALSCON is poised to regain its position as a major aluminum producer for domestic and international markets, with a capacity to produce three hundred thousand metric tonnes of aluminum per annum.
Olusola Akintonde
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