Methanol plant, Nigeria
Name of the Project
Methanol plant.
Location
Akwa Ibom, Nigeria.
Project Owner/s
Blackrose and the International Finance Corporation (IFC).
Project Description
The project entails the development of Africa’s largest gas-to-methanol plant to significantly reduce CO2 emissions by offsetting the flaring of natural gas and, instead, turning it into a valuable chemical for solvents, paints, plastics and car parts. The project will be implemented in two phases, each with an installed capacity of 1.8-million tonnes a year.
Phase 1 will produce low-carbon methanol, an industrial chemical essential to the manufacturing of hundreds of everyday products, including solvents for the pharmaceutical industry, paints, plastics, automobile parts and construction materials.
Phase 2 will expand methanol production to include ammonia, a critical feedstock for fertiliser production.
Potential Job Creation
The project will create more than 2 500 local jobs during the construction phase and a further 16 000 jobs indirectly by catalysing manufacturing activity and economic diversification.
Capital Expenditure
Blackrose, the IFC and Africa Finance Corporation are financing the project.
Planned Start/End Date
Not confirmed.
Latest Developments
Too early to state.
Key Contracts, Suppliers and Consultants
No details available.
Contact Details for Project Information
IFC head of investor relations Ayelet Perlstein, email aperlstein@ifc.org.
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