Duport Midstream Company Limited (DMCL) and First City Monument Bank (FCMB) Limited have revealed that the ongoing construction of Energy Park located in Egbokor, Orhionmwon Local Government Area (LGA), Edo State would be ready for inauguration by the end of March.
Chief Executive Officer of the company, Dr. Akintoye Akindele revealed this during an inspection of the facility, being financed by FCMB and owned by Duport Midstream, a private company.
The energy park, situated at Egbokor, Orhionmwon LGA, is made up of a modular refinery, gas plant, power plant and a data centre
After assessing the project, ther chief executive of the refinery explained that by the end of March, the park would be ready for inauguration.
He, however, added that the inauguration “is at the behest of the government which will happen at different levels.”
Akindele explained that the regulator “should come and ensure that all we are ready. We must test for a while, we will start testing in the next 30 to 45 days for the government to confirm and commission.
“When it come on stream, the facility would leverage on infrastructure to deliver energy to the country, reduce dependence on importation of petroleum products, create jobs and ensure optimal utilisation of the nation’s assets.”
Akindele explained that the energy park “is a facility with modular refinery, operation plant, gas operations, power plants and a data centre.
He stressed that in phase one of the project, they had designed a 10,000 barrel per day refinery, 60-million-scf gas processing facility, 10-million-scf compressed natural gas (CNG) facility, 50 megawatts power plant and a data center.
He, however, said: “This will be delivered in modules. Module one or phase one will be going live in the next 30 days; and after we get approval from the Department of Petroleum Resource (DPR) to go live, we will be starting with a 2,500 barrel per day refinery, 40-million-scf gas processing, 5megawatts power, a data center and almost 20,000 metric tonnes of storage.
“Our plan is that once we do this at the initial take-off, we will then add the other modules to it in a quarterly and biennial way. In that way, we will be able to utilize assets optimally, avoid wastage, look after the environment and create jobs,” he said.
Also in her assessment, Managing Director of First City Monument Bank (FCMB), Mrs Yemisi Edun, expressed satisfaction with the progress of work in the facility, saying the modular project was remarkable and driven by technology.
Edun said the bank “is committed to creating purpose in some key sectors, including technology. Seeing this project coming on board, using technology to actually develop refineries and produce energy in the country, we are convinced that it is a project we should partner with.
“The project is doing well in terms of financing and rating. I can say they are almost getting to completion. The management are very much convinced that, in the next 60 days, they should be able to commission the project and it fits our timeline.”