In a significant development for Nigeria’s energy and industrial sectors, the China Road and Bridge Corporation, CRBC, has signed a major agreement with Brass Fertilizer and Petrochemical Company Ltd, BFPCL, to advance the Brass Industrial Park and Methanol Complex project valued at approximately $3.3 billion, to bolster Nigeria’s economy.
The Nigerian Minister of Petroleum Resources, Gas, announced the deal on his official X handle, emphasizing that the agreement aligns with President Bola Ahmed Tinubu’s agenda to drive industrial growth and ensure energy security across the nation.
The agreement was finalized during the ongoing Forum on China-Africa Cooperation, FOCAC, in China, part of the broader state visit by President Tinubu. The Minister stated, “during the Presidential State Visit and the FOCAC, I had the privilege of witnessing the signing of crucial agreements for the Brass Industrial Park, Gas Gathering Pipelines & Associated Facilities, and the Methanol Complex Project between BFPCL and CRBC.”
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The Brass Oil and Gas City project, located on Brass Island in Bayelsa State, is poised to become a leading global center for petrochemical, fertilizer and hydrocarbon processing. This initiative is part of a broader vision to position Nigeria as a premier hub for downstream oil and gas activities in Africa. Till date, the Brass Oil and Gas City has attracted $3.5 billion in investments, marking it as a key player in the country’s industrial and energy landscape.
The project, sponsored by BFPCL—a joint venture between DSV Engineering Limited, DSV, the Nigerian National Petroleum Corporation, NNPC, and the Nigerian Content Development & Monitoring Board, NCDMB, will be based on a 667.5-hectare site on Brass Island. It includes a comprehensive gas supply network, a natural gas processing plant, a methanol production facility, export terminals, and extensive supporting infrastructure, all strategically located near the Atlantic Ocean and the St. Nicholas River.
This landmark agreement is anticipated to drive innovation, growth, and energy security in Nigeria, further solidifying the country’s position in the global energy sector.
Credible News.ng
