JUST IN: BUA Refinery In Akwa Ibom Not 90% Complete, Management Clarifies

The BUA Group has dismissed re­port that the 200,000 barrels/day refinery and petrochemical plant it is constructing in Akwa Ibom State has got to 90 percent comple­tion stage....CLICK HERE TO READ THE FULL ARTICLE➤

The company described the report as misleading, while urg­ing the public to disregard it in a statement by its management on Sunday. While there were also specula­tions that the refinery project has been stalled as a result of dispute over land ownership between the host communities, BUA, however, said it is recording remarkable progress in the construction of the plant.

The company said it is on track to meet the delivery timelines of the refinery in lines with the deliv­ery timelines.

However, the company prom­ised that it will continue to keep the public informed on the progress it is making in the construction of the refinery and its other projects.

“As we make remarkable strides on our Akwa Ibom refin­ery project, we are proud to share that construction is progressing steadily.

“Whilst the refinery is not at 90% completion, we are howev­er on track to meet our delivery timelines in collaboration with our partners. This BUA Refinery & Petrochemicals project represents a major milestone in strengthen­ing Nigeria’s refining capacity and energy security.

“Our other energy projects, in­cluding the construction of a mini- LNG plant and several new hybrid power plants across the country to add additional capacity to our over 1,000MW installed captive power generation capacity, are also pro­gressing rapidly.

“The public is advised to veri­fy any news through our official channels and platforms so as not to be misled by mischievous persons.

“At BUA, we remain commit­ted to transparency and excellence. As we have consistently done with over 12 of our completed mega in­dustrial projects worth over $3.5 billion in the past 10 years, we will continue to keep you updated with verifiable and accurate informa­tion only where necessary, and as milestones are achieved.

“We appreciate the public’s interest and enthusiasm for this transformative project as we work together in building a stronger in­dustrial and manufacturing base for a self-reliant Nigeria,” the man­agement of BUA Group said in the statement. ...CLICK HERE TO READ THE FULL ARTICLE➤