Dangote Lagos Refinery To Start Operations In 2018

The proposed Dangote oil refinery situated in Ibeju-Lekki, Lagos is expected to be functional by the first half of 2018, an official with the company has disclosed. According to the Dangote Industries’ operations director for petroleum refining, Mr. George Nicolaides, the plant will be able to process 500,000 barrels of crude a day. The new production capacity of the refinery exceed the earlier announced 400,000 barrels a day. In an interview at the Platts African Refining Summit in Cape Town Monday, he said: “The site is being cleared, the plant is cleared and is close to the beginning of detailed engineering.” The Dangote group got a $3.3 billion loan with 12 Nigerian and foreign lenders to build the refinery as well as a petrochemical and fertilizer complex costing a total of $9 billion. “Supplying the local market is the primary objective. Naturally we can move product to the region. The government is being very supportive, very enthusiastic about this project. We are not looking for or wanting any particular subsidies.”  Nicolaides said. Dangote selected Engineers India Ltd to do most of the detailed engineering work for the new plant. Construction contractors are yet to be appointed.