Alpha Grip Management Company (AGMC) a subsidiary of Alpha Group UAE has entered a partnership with China National Chemical Engineering International Corporation Ltd to develop, finance and construct a $20bn Ogidigben Gas Revolution Industrial Park (GRIP) Project in Delta State, Nigeria.
The project according to the partnership agreement will see the project host power plants, fertilizer, petrochemical, aluminum smelters, LNG, and methanol plants amongst others.
President Li Zhenyu of CNCEC provided a detailed introduction to the development of CNCEC’s overseas business and its operations in Nigeria, which recently included the construction of the Dangote Petrochemical Refinery Complex.
Zhenyu said that CNCEC, as a globally competitive contractor in the oil and gas industry engineering services sector, with expertise in research and development investment, construction, and operations, has always regarded Nigeria as a strategic priority for its overseas expansion.
He said CNCEC is committed to actively implementing the consensus reached by the heads of state during the China-Africa Cooperation Forum Summit, to deepen multi-field cooperation, and make greater contributions to Nigeria’s economic growth through construction and industrialization.
He highlighted CNCEC’s strong desire to develop the $20b Ogidigben Gas Project to completion in partnership with the licensed developer AGMC, FGN of Nigeria, Delta State Government, NNPCL and other stakeholders.
Joseph Tegbe, director general of the Nigeria-China Strategic Partnership said the strategic partnership will deepen the bilateral ties between the two nations.
Tegbe recognised CNCEC’s technical capabilities in oil and gas, refining, petrochemical complexes, and integrated natural gas utilisation.
He lauded CNCEC’s achievements in Nigeria and their involvement in the Ogidigben Gas Revolution Industrial Park project, which he stated is a national priority project with the full support of the federal government of Nigeria.
He further stated that Nigeria has abundant oil and gas resources and a strong willingness for industrial development. The Nigerian government places great importance on mutually beneficial cooperation with Chinese enterprises.
He expressed confidence that CNCEC could fully leverage its professional capabilities and technological advantages to participate in relevant construction projects, jointly promote trade and economic exchanges, and contribute to high-quality economic development.
Mohamed Bayorh, chairman of Alpha Group UAE/ president of AGMC, lauded the CNEC leadership for its warm reception and for formally concluding the partnership agreements for the Ogidigben Gas Revolution Industrial Park project.
He commended the Federal government for Nigeria promoting policies and reforms that have created an enabling environment to attract international investors.
He said the move by the Nigerian government has significantly enhanced investor’s confidence, particularly in the Nigerian oil and gas industry.
Bayorh further thanked Ekperikpe Ekpo, minister of State, Petroleum Resources (Gas) for taking strategic leadership in driving gas infrastructure and industrialisation in the Gas Sector along with the leadership of Mele Kolo Kyari, group chief executive officer at Nigeria National Petroleum Company Limited (NNPCL), and Olalekan Ogunleye, executive vice president of Gas, Power, and New Energy for the continued support of the Ogidigben GRIP Project.
He further expressed many thanks and appreciation to the Director General, Hon. Joseph Tegbe and his delegation for witnessing the formal signing ceremony between the CNCEC and AGMC on the investment and financing of the Ogidigben Gas Revolution Industrial Park project which underscores the significance of the Nigeria- China strategic bilateral partnership.
The President of AGMC strongly emphasised CNCEC’s technological competence and comprehensive strength in the oil, gas, and chemical industries and that this partnership will undoubtedly fast-track the integrated development of the project poised to be Africa’s largest Gas City as originally conceptualized by the NNPCL.
The $20bn Ogidigben Gas project will host power plants, fertilizer, petrochemical, aluminium smelters, LNG, and methanol plants amongst others, as well as many secondary industries that will generate thousands of employment both during construction activities and operations.
The AGMC developer consortium consists of a UAE-based capital investment firm and several global players including Power China and now CNCEC, with a total asset value exceeding over $100bn.
This partnership between AGMC and CNCEC will undoubtedly complement each other’s strengths by joining forces in making significant contributions to accelerating Nigeria’s industrialisation progress in the gas sector, with the successful take-off and completion of the Ogidigben GRIP project.
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