Adebutu: We’re Investing In Nigeria And Creating A brand new World Of Potentialities
What we are commissioning on Tuesday (tomorrow) is our extremely-modern tank farm which contains Part 1 of our 10 12 months growth programme. To date, we now have acquired over thirteen,000 acres of prime land and currently concluding the negotiation of another 12,000 acres, to make the Petrolex new clean energy technology Oil Metropolis at a hundred and one sq. kilometres, Africa’s largest petroleum products hub, with a size that is approximately 10 percent the size of Lagos state.
This legacy funding, audited by Worth Waterhouse Coopers, is over $330 million. It’s positioned to rework the future of petroleum products distribution in Nigeria as sub-Saharan Africa’s largest products storage tank thus far. The mega oil city homes the state-of-the-art Petrolex tank farm which has a 300 million-litre storage facility, residential quarters, military barracks, 30 loading gantries, gasoline processing plant, vessels, and a 4000-truck capacity park with accommodation for drivers. The trailer park alone is an innovation with an automation and pace that’s essential to the supply of the efficiency that the industry requires. As well as, we’ve put an enlargement plan in place which can increase the storage capability of the tank new clean energy technology farm to 1.2 billion litres in just a few years.
Other than this petroleum merchandise bulk storage; distribution, retailing and refining, are the primary hyperlinks in Petrolex’s medium-term drive for development. We plan to deploy a fleet of new clean energy technology at least 150 vessels, barges and tugboats to provide a litany of providers throughout Africa’s waters. Petrolex at present has sixteen barges, 8 tug boats and a 30KT vessel.
The area people have accepted us with open arms. What you need to know is that we’re a part of the group itself. So it was not a query of strangers coming to arrange a facility in Ibefun. We have now been a part of this group for a very long time, what’s totally different is that we’re manifesting in a different type.
A brand new World of Possibilities” aptly captures the ever-evolving spirit of Petrolex, as we is not going to relent until we see Nigeria remodeled into an vitality self-reliant nation within the instant future. As built-in energy conglomerate with strategic investments across the power value chain, we are dedicated to building communities, remodeling lives and driving financial growth and development in Nigeria.