The Executive Director, Strategy, Capital Projects and Portfolio Development in the Dangote Group, Mr. Edwin Devakumar, has reiterated his optimism that the Dangote refinery project which is currently under construction in Ibeju Lekki, Lagos will be completed by the end of December, despite delays occasioned by the hard bitting economic effects of the COVID-19 pandemic.
Devakumar asserted this while delivering a corporate keynote address at the Nigerian International Petroleum Summit (NIPS).
Devakumar said: ‘’The refinery has so far achieved considerable milestones considering the global health crisis that hindered the desirable progress. The project has incurred some delays due to the COVID-19 pandemic.
“As at date, the project construction has progressed to 79 per cent and an overall project completion of 89.50 per cent, considering engineering, procurement and construction.
“At the current rate of progress the mechanical completion is now expected to be accomplished by fourth quarter. Commissioning is expected to commence immediately.”
The refinery is expected to process a variety of light and medium grades of crude to produce Euro-V quality clean fuels. It will produce 10.4 million tonnes (Mt) of gasoline, 4.6Mt of diesel, and 4Mt of jet fuel a year.
“In addition the refinery will also produce 0.69Mt of polypropylene, 0.24Mt of propane, 32,000t of Sulphur, and 0.5Mt of carbon black feed annually,” Devakumar added
The Dangote Refinery is an oil refinery owned by the Dangote Group that is under construction in Lekki, Nigeria. When complete, it will have the capacity to process about 650,000 barrels per day of crude oil, making it the largest single-train refinery in the world.
The project will create thousands of direct and indirect jobs and will help the country save its hard-earned foreign exchange which is usually spent on the importation of petroleum products.