Niger Signs US$1.9bn Refinery It Cannot Yet Fund
Niger signed a US$1.9bn concession for a 100,000-barrel-a-day refinery at Dosso. The partner now has four months to mobilise the money. The post Niger Signs US$1.9bn Refinery It Cannot Yet Fund appeared first on The Rio Times .
Niger has signed a US$1.9bn concession for a 100,000-barrel-per-day refinery near Dosso, but the project is not yet funded. The value of the concession is 1,077,244,710,000 CFA francs, or roughly US$1.9bn. The refinery and petrochemical complex will be built, operated, and then transferred to the state under a sixteen-year build-operate-transfer concession.
Three years of the concession are dedicated to construction, followed by thirteen years of operation, and finally the transfer of the asset to the Nigerian state. The deadline for the partner to mobilize financing and deliver detailed engineering is four months, with twelve months given for financial closure. The signing ceremony took place on 15 August, with the concession valued at 1,077,244,710,000 CFA francs, approximately US$1.9bn.
The contract was signed by Zimar Group and High Tech, both represented by Benjamin Day Marc. Niger's Prime Minister, Ali Mahamane Lamine Zeine, signed alongside Algeria's Prime Minister, Sifi Ghrieb. The refinery's capacity is five times that of the country's existing Ollelewa refinery.
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