Chinese firm signs agreement to build oil and gas infrastructure in Nigeria
- The CCEGC-led consortium agreed to jointly develop, finance and construct projects including pipelines, refineries, ports, highways, and railways across Nigeria.
Chongqing Construction Engineering Group (CCEGC), a Chinese construction company, and a consortium of investors have signed eight memoranda of agreement (MOAs) aimed at developing multibillion-dollar infrastructure projects in Nigeria’s oil and gas sector.
The consortium comprises of Tianjin Energy Resources, an indigenous Nigerian integrated engineering, procurement, construction and project management company; Oilserv Limited, an indigenous EPCIC (pipelines & facilities) company; and Alpha Group, a Dubai-based diversified holding conglomerate.
The agreements were signed in Abuja on Friday by Yang Jingpu, CCEGC’s Chairman/Party Secretary General; Peter Lin, Managing Director of Tianjin Energy Resources; Emeka Okwuosa, Chairman of Oilserv Limited; Sheikh Mohamed Bayorh, Chairman of Alpha Group.
Under the terms of the agreements, the CCEGC-led consortium agreed to jointly develop, finance and construct projects including pipelines, refineries, ports, highways, and railways across Nigeria.
“CCEGC is proud to foster the long-term strategic relationship between Nigeria and China by participating in such high profile projects and bringing our proven experience, track record, and financing capabilities to the partnership,” Jingpu said. “We look forward to working with our partners Alpha Group and Oilserv in Nigeria and the rest of Africa.”
The projects will be financed by Industrial and Commercial Bank of China (ICBC), as well as Standard Bank of South Africa. As part the agreement, the four project partners will begin to undertake joint feasibility studies and participate in joint steering committees with key stakeholders from the government and private sector.
“We are delighted to formally welcome CCEGC, Tianjin Energy, and Oilserv in joining our growing list of strategic project partners for the Gas Revolution Industrial Park in Delta State as well as for our development projects and initiatives in Northern Nigeria for which we remain passionately committed to the regions’ socio-economic development and industrialization” said Sheikh Mohamed Bayorh.
Founded in 1998, CCEGC is a state-owned construction company based in West China. The company engages in the construction of buildings, highways, bridges, municipal and electrical utilities, tunnels, steel structures, power plants, and parks.
Most Popular News
- Financial institutions need to embrace culture of innovation – SWIFT
- Nigeria’s inflation declines for the first time in 15 months
- SWIFT opens application process for African startup competition
- BBM releases new version for Nigerian, South African users
- AMCON sells Keystone Bank to Nigerian investors
- NNPC plans to generate 4,000 MW of power from joint venture projects