By Adedayo Osho
Nigerian investment firm, BFI Group has entered into a $1.2 billion deal with China National Chemical Engineering Company, otherwise known as CNCEC, to revive a moribund gas facility located in Akwa Ibom State.
Nigeria’s Minister of State for Petroleum Resources, Ekperikpe Ekpo announced the development on November 11, 2024, stating the project will revamp a 135 million-standard-cubic-feet-per-day processing facility at the Aluminum Smelter Company of Nigeria’s aluminum plant.
The rehabilitated facility is expected to generate 540 MW of electricity, facilitating the production of up to one million tons of aluminum annually. The plant, which has been dormant for years due to legal and financial challenges, is set to play a critical role in Nigeria’s energy and industrial sectors.
