Dangote
Indications emerged on Wednesday that the $8bn refinery proposed by Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, would be located at the Olokola Free Trade Zone, Ondo State.
A senior official of the company, who asked not to be named because he was not authorised to speak on the matter, told our correspondent that the refinery would be located in the OFTZ.
One of the factors considered for the location of the refinery, according to the source, is that it is the biggest deep seaport in the country and other big industries are located there; besides, Ondo is one of the oil producing states in the country.
The source added that stable crude oil supply was also a vital element in the choice of the location for the refinery because Chevron and a number of other oil producers had oil fields in the oil-rich region of the state.
On why Lagos was not chosen, industry analysts said though the state was a coastal state, Dangote would have to build pipelines to transfer crude from oil fields to the refinery, thereby incurring additional expenses.
The source explained that necessary approvals had been secured for the refinery, adding that the Dangote Group was just waiting for the necessary equipment with which to build the refinery to arrive.
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