Lagos, Nigeria – Today, the U.S. Trade and Development Agency signed a grant with Eko Petrochem and Refining Company Ltd, a Nigerian petrochemical and refining company, for a feasibility study supporting technologies and development of an implementation plan for a modular refinery on Tomaro Island in Lagos, Nigeria.
Eko Petrochem and Refining Company selected Texas-based VFuels, LLC to carry out the study, which will provide technical analyses, engineering and design needed to advance the 20,000 barrels per day modular refinery. This modular refinery will promote infrastructure development by increasing Nigeria’s local refining capacity.
“We are proud to support this new project, which will lead to infrastructure development and economic growth in Nigeria,” said Thomas R. Hardy, USTDA’s Acting Director. “This project represents an excellent opportunity for U.S. businesses to export technologies and services in support of Nigeria’s refining goals.”
“We appreciate USTDA supporting our company’s infrastructure development plans,” said Captain Emmanuel Ihenacho, Chairman of Eko Petrochem and Refining Company. “The funds received will help ensure the timely completion of the proposed development and the attainment of the underlying economic and social impacts envisaged.”
“VFuels is proud to partner with USTDA to further develop the Eko Petrochem Refinery,” said Souheil Abboud of VFuels.
Ambassador W. Stuart Symington witnessed the grant signing on behalf of the U.S. Mission and said, “This project is an example of one of our core objectives at the U.S. Mission to Nigeria, to support solutions that solve Nigeria’s development challenges.”
USTDA Acting Director Hardy signed the grant at a ceremony on Tomaro Island in Lagos.