All The Details As BUA Group Signs Agreement With Axens Of France To Build $Multi- Billion 200,000bpd Integrated Refinery And Petrochemical Project In Nigeria

BUA Group, one of Africa’s leading Foods, Mining, & Infrastructure Conglomerates has today signed an agreement with Axens of France for the supply of process technologies for its upcoming 10million tonnes per annum megarefinery and petrochemicals facility to be sited in Akwa-ibom, Nigeria.

This multi-billion-dollar integrated 200,000 bpd refinery and petrochemical plant aims at producing Euro-V fuels and Polypropylene for the domestic and regional market. According to BUA, Axens was selected after a comprehensive process, for its advanced technology licenses, basic engineering, catalysts & adsorbents, proprietary equipment, training and technical services. The landmark agreement was signed between the Chairman of BUA Group, Abdul Samad Rabiu, and the CEO of Axens, Jean Sentenac, in a ceremony presided over by France’s Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester.

BUA Group Chairman and CEO Abdul Samad Rabiu said: “This 10million tonnes per annum refinery & petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add most value and where raw materials can be sourced locally. Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, jet fuel meeting Euro-V specifications for the Nigerian market and the larger region. In addition, it will produce propylene, an essential component for the petrochemical industry used in polypropylene-based plastics and packaging. This project will help in reducing Nigeria’s dependence on imported fuels and petrochemicals.”

“It is in the DNA of BUA Group to create efficient, innovative and sustainable businesses; look at our cement plants, the most sustainable in Nigeria, same with our sugar plants.”, Rabiu added.

Axens’ Chairman and CEO Jean Sentenac said: “We are delighted to be part of this strategic project providing the most advanced technologies on the market that are energy-efficient and ensure the production of high-quality fuels and petrochemical intermediates. This state-of-the-art integrated complex will allow BUA Group to develop its refining and petrochemical capabilities in Nigeria and produce highly valuable products for the domestic market. It is a great pleasure and a pride to partner with them to concur to develop Nigerian economy and ensure the success of this strategic state of the art project”.

About BUA Group

Established in 1988, BUA Group is one of Africa’s largest diversified groups operating out of Nigeria with its key interests in foods, mining, manufacturing and infrastructure. Its vision is to unlock opportunities that will drive sustainable development whilst providing value to all stakeholders and the African continent.

The Group’s investments span the following sectors: Cement, Sugar, Flour, Pasta, Steel, Rice, Real Estate, Logistics, Ports and Terminals with a core focus on building local manufacturing capacity to generate employment, and provide high quality products and develop the African continent.

About Axens

Axens is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates as well as all of natural gas’ treatment and conversion options. The offer includes technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain, from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. This unique position ensures the highest level of performance with a reduced environmental footprint. Axens global offer is based on highly trained human resources, modern production facilities and an extended global network for industrial, technical supports & commercial services. Axens is an IFP Group company.