21 Facts About Dangote’s Refinery and Petrochemical Plant...MUST READ



21 Facts About Dangote’s Refinery and Petrochemical Plant
1. Over $4 billion worth of equipment currently sits on the site.
2. The project is slated to cost $14 billion (N2.8 trillion) of which Dangote is contributing $7 billion in equity.
3. The project site is larger than Victoria Island. It is located on
2135 hectares of land in Epe, Lagos near the Lekki Free Zone
4. It is the largest industrial complex in Africa
5. Work goes on, on the site, 24 hours a day, 7 days a week
6. World Record 2.72 million accident free hours recorded on site, without a single lost time to injuries
7. It is the largest single train grass roots refinery in the world with a processing capacity of 650,000 BPSD
8. Dangote Group brought in the world’s #1, #2, and #5 sand dredgers to sand fill the site. 60% of the land being swampy. So far these dredgers have reclaimed 13 million m³ out of 30 million m³
9. During construction, the project will employ over 25,000 Nigerians
10. Dangote is investing over $7 billion (N1.4 trillion) in the project
11. It is the largest single train refinery project on the planet
12. When this project comes online, Nigeria will save a minimum of $10 billion a year on imports
13. The Ammonia component of the plant will produce 2.8 million tonnes of Urea
14. Dangote is producing its own electricity to power the plant and by so doing is saving 75% costs. Dangote produces electricity at a rate that is significantly cheaper than the Federal Government. Dangote’s cost is $400,000/MW, while Federal Government is $2,000,000/MW
15. All the civil engineering is done by Nigerian companies
16. The plant has an export value of $6 billion per annum, meaning Dangote’s efforts will increase the amount of foreign exchange in Nigeria’s foreign reserves by at least 40% of current value on a yearly basis
17. Dangote said when this project comes on line, his friend Femi Otedola will save at least N26 per litre on millions of litres of diesel and petrol which his companies import annually. This savings will be passed on to the consumers and it will take a lot of pressure off the banks
18. Billions of Naira were paid to acquire the land and to settle the existing communities. More money was also allocated and spent to relocate the existing communities
19. This project will restore the dignity of Nigeria, a crude producing country that has for years gone abroad to meet its demand for refined products
20. Refined products to be produced at the plant include but is not limited to propane, petrol, Jet Fuel, Diesel, Kerosene, Carbon Black, Polypropylene, Polyethylene
21. The United States Trade and Development Agency is supporting this project with $997 million
Very massive project to stand in the Ibeju-Lekki axis come 2019.
MY TAKE ON THE DANGOTE REFINERY
Its amazing while the rest of Nigeria was complaining about subsidy or no subsidy, While all Nigerian Entrepreneurs were telling us how impossible it was to build a Refinery in NIGERIA without subsidy removal. While the IOCs (EXXONMOBIL, CHEVRON, SHELL, AGIP, etc) refused to invest in any downstream project for the Petroleum product value chain.
DANGOTE simply went to work. And he has defied all the lies we were told.
I am proud because I worked closely with him in TRANSCORP Plc whIle I was CHIEF OPERATING OFFICER AND GROUP EXECUTIVE DIRECTOR; OPERATIONS N STRATEGY and we won the Port Harcourt and warri Refinery privatisation bids.
We paid about ( $750 million) even though it would need an extra $2 billion to put back to work but civil servants organised the labour unions to protest. The National Assembly launched an investigation and the rest is history. PRESIDENT Yara' dua cancelled the transaction. Gave us back our money and the Refineries have *NOT* worked since then.
Well Dangote had access to all the research we had done on how great a business refinery ownership was. And I will never forget the day we were summoned by the NATIONAL ASSEMBLY while they were investigating our purchase. DANGOTE swore that he will build his *OWN* refinery since the Nigerian legislators and civil servants did not want private owners to run Nigeria's refineries efficiently.
In two years that statement will be a statement of fact and it will be bye bye to inefficiencies in the down stream sector of Nigeria's petroleum industry.
"You just have to give it to this man he knows what he is doing and NIGERIA owes him a lot."

By Nicholas Okoye

Credit: I got this post from Nicholas Okoye's facebook post, and i felt like sharing it with my readers.

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