A 30,000-barrel capacity modular refinery is set to be open in Akure, Ondo state.
Speaking during a recent visit to Rotimi Akeredolu, governor of the state, Kassim Adeleke, CEO of Crown Refinery and Petrochemical Limited, said the company’s proposals had been declined in other states.
Adeleke said within a year of submitting their proposal to Ondo, the coast has been cleared for the project to begin.
He said the project will make the state accessible to Lagos on water with the use of speed boats.
The refinery is expected to have a capacity of 30,000 barrels per day of crude processing, 120,000 tons per annum of base oil and 25,000 ton per annum of lubricant with a supporting 50MW power plant.
In his remarks, Akeredu said his administration is determined to make Ondo state conducive for all genuine investors willing to partner the state in its industrialization drive.
This, he said, would be achieved by easing the cost of doing business in the state.
He commended the Crown Refinery and Petrochemical Limited for coming on board to be a partner with the state government and assured them and their partners a second to none atmosphere in their business deals in Ondo.