The Nigerian National Petroleum Corporation, the Nigerian Content Development and Monitoring Board, Brass Fertilizer and Petrochemical Company Limited and DSV Engineering have signed two key agreements for the construction of a methanol plant and a gas processing plant in Odeama, Brass, Bayelsa State.
The methanol plant will have a capacity of 10,000 tonnes per day while that of the gas plant is 500 million standard cubic feet per day, according to the NCDMB.
It says the Executive Secretary of NCDMB, Mr Simbi Wabote, signed for the board, while the Chief Operating Officer, Gas and Power, NNPC, Mr Usman Yusuf, and the Managing Director of BFPCL, Chief Ben Okoye, signed for their companies at the ceremony held at the board’s liaison office in Abuja.
The NCDMB says the first agreement was the Accession Agreement between BFPCL, DSV Engineering, NNPC and the NCDMB Capacity Development Intervention Company Limited by Guarantee.
According to the statement, the second agreement was the Share Subscription Agreement between BFPCL, DSV Engineering and the NCDMB Capacity Development Intervention Company Limited by Guarantee.
It states this agreement confirmed the allotment of 18 per cent of the authorised share capital of the Brass Fertilizer and Petrochemical Company Limited to the NCDMB.
In his remarks, Wabote says the methanol plant would, upon completion, bring Nigeria onto the world map as one of the top 10 producers of methanol.
