Oando to Construct $6 Billion Refinery in Nigeria

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Researched by Industrial Info Resources (Sugar Land, Texas)--Oando Plc (NIG:UNIP) (Lagos, Nigeria) is planning to construct a $6 billion, 360,000-barrel-per-day crude oil refinery in the Ibeju-Lekki area of Lagos. The proposed refinery will be built to meet the country's local demand for refined products. Oando is planning to select an engineering firm in early 2009 to begin front-end engineering design work. The approval for the refinery is expected in 2010. Oando will select an engineering and construction firm to perform engineering, procurement and construction services for the refinery, which is expected to begin construction in spring 2011 and take about 48 months to complete.

Oando has consolidated all of its affiliates and subsidiary companies to become an integrated energy group within Nigeria and the African energy sectors. The company plans to become a leader in the country and to deliver world-class service in Africa. Oando's business units include marketing, supply & trading, gas & power, upstream and downstream.

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