Nigeria’s Petroleum Ministry announced that it has signed a $1.2 billion deal with CNCEC, a Chinese state-owned engineering company, to renovate a gas processing facility that is essential to the nation’s aluminum production.
A deal between CNCEC and BFI Group, the primary investor in the Aluminum Smelter Company of Nigeria, is the first step in bringing the dormant smelter back to life after years of inactivity brought on by financial problems and legal conflicts.
Late on Monday, the Petroleum Ministry announced that the agreement will allow CNCEC to revive the dormant smelter’s 135 million standard cubic feet per day gas processing unit, which can generate about 300,000 tons of aluminum annually.
Laptops 1000Nigeria will be able to advance several stages of the aluminum manufacturing process and establish itself “as a major producer of aluminum in Africa and globally” with the restart of the facility, according to Minister of State for Gas Epkerikpe Ekpo.
Up to 540 megawatts of electricity and about a million tons of aluminum are anticipated to be produced annually by the facility, according to Ekpo.
