Naijajingles
The Ondo State government and its investment partners have initiated the process for the establishment of a 500,000 barrels-per-day refinery and a free trade zone with the establishment of the Sunshine Joint Venture Infrastructure Limited.
Sunshine Joint Venture Infrastructure Limited is the platform through which the partners – Backbone Infrastructure Limited, BINL, NEFEX Petro Line Limited and Cooldeal Limited – will work with the Ondo State Government, represented by the Ondo State Investment Promotion Agency, ONDIPA, towards the actualisation of the refinery and free trade zone.
A statement by BINL Vice President, Corporate Services, Barrister Wale Adekola, which provided an update on the refinery and free trade zone projects, disclosed that NEFEX, BINL and Cooldeal Limited are represented in the joint venture by different officials.
The statement added that the joint venture team and the consultants, including China Harbour, China Engineering and Honeywell, UOP, among others, were led by ONDIPA executives to the project sites in the Ilaje area of Ondo State.
During the visit, the team held engagements with critical stakeholders.
The statement added that before proceeding to the project sites across the waters, the team paid a courtesy visit to His Royal Majesty (HRM), the Olugbo of Ugbo Kingdom, Oba Frederick Obateru Akinruntan.
“The Kabiyesi warmly welcomed the team especially the foreign partners which include the team lead Messrs Egbal, JM and Maryam among others. He assured the JV team and the Ondo State Government of the total support of the Kingdom and all stakeholders including the security of lives and property of all the groups and individuals that will be involved in these projects for the benefits of all,” the statement said.
The team, led by Chairman of BINL, former Senate President, Ken Nnamani, also paid a courtesy call on Ondo State Governor, Lucky Aiyedatiwa.
The governor appreciate the joint venture for making Ondo State destination of choice for its investment, noting that the development will drive the industrial growth of Ondo and Nigeria as a whole. He also assured of conducive environment that will ensure a thriving business and mutually beneficial relationship amongst all stakeholders.
The JV team and ONDIPA restated commitment not just for the successful execution of the projects but also giving the stakeholders full benefits by providing modern social amenities including hospitals, schools, potable water and settlement centers with all social amenities.
The Ondo State government is lanning to set up a 500,000 barrels-per-day refinery and a 1,471-hectare Sunshine Free Trade Zone in the Ilaje area of Ondo State.
