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Home | News |Orient Refinery Signs Contract with Julius Berger
Orient Refinery Signs Contract with Julius Berger
Updated: 2006-04-04 00:00 Source: share:

In a bid to meet its target to roll out its products by next year, one of the 18 companies given license by the Federal Government to establish private refineries in the country, Orient Refining and Petrochemicals Company Limited, has awarded a multi million-naira contract to construction giant, Julius Berger Plc.

The contract, which is valued at over N1 billion, is for the site preparation works of the refinery to be situated on the bank of Anambra River in Anambra East Local Government Area of Anambra State. The construction of the first phase of the Orient Refinery project would cost a total of N53 billion.

The Managing Director of Orient Refining and Petrochemicals Limited, Engr. Nnameka Nwakwa, disclosed this at the weekend in a brief contract signing ceremony in Port Harcourt the Rivers State capital.
Speaking with THISDAY shortly after the ceremony, Nwakwa said: “the Board of Directors of Orient Petroleum Refinery
is very pleased that the foundation for the establishment of the company’s refinery has been consolidated with this contract signed today with Julius Berger Plc.”

According to Nwakwa, Orient Refinery was the first company in Nigeria to achieve these milestones.
The refinery, he explained, had an approved capacity of 55,000 barrels per day, pointing out that the main source of
feedstock supply to the refinery would be the oil and gas fields in Oil Prospecting License (OPL) blocks 915 and 916, parts of the Anambra River geological basin situated within refinery site.

"We plan to raise sufficient funds for both the construction of the refinery and its associated Exploration and Production (E&P) activities. The sale of shares of the OPR – Refining and Petroch-emicals Company by private
placement is currently in progress and detailed information of this offer is available in our website and the branches
of the four receiving banks, Interconti-nental Bank, Fidelity Bank, Oceanic Bank and Guaranty Trust Bank.

In his remarks at the occasion, the Industrial and Gas Sector  Manager of Julius Berger Plc, Engr. Bello Mustapha said the construction giant would do everything possible to meet the specifications and schedule of the contract agreement.He disclosed that the multinational construction company would mobilize to site in the “next few days”, even as he solicited for support to ensure the smooth execution of the project. 

 

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