The long awaited proposed multi-million naira Modular Refinery, one of the 10 refineries approved by the federal government to be cited in Anambra and nine other oil producing states in the country, may have come alive, following a balance struck between the state government and the Host Communities of Nigeria Producing Oil and Gas, HOSCOM.
This followed a courtesy visit to the Managing Director of Anambra State Investment Protection and Promotion Agency, ANSIPPA. Mr. Jide Ikeakor, by the national chairman of HOSCOM, Prince Mike Emuh.
During the visit which was arranged by the Chief of Staff to Anambra Government House, Primus Odili, the ANSIPPA boss, Ikeakor commended Emuh for his consistent concern for the development of oil and gas in the state and assured him that government would encourage foreign investors who have the interest to cite a modular refinery in the state.
Ikeakor who admitted that Anambra has more quantity of gas than oil flowing underground, said government could as well serve as a guarantor to the investors whenever the refinery project kicks off.
Earlier, the Project Consultant, Engr. Okoro explained that the refinery project which was split in phases, is expected to cost between $15 million and $140 million, adding that when completed, the refinery would be very profitable to both the government and investors.