Dangote Oil Refinery has received its first ever ship call, “BBC Naples” berthed at the new jetty located at the Lekki Free Trade Zone, Lagos. The new ship is expected to deliver essential equipment for ongoing construction work at the Dangote Refinery.
BBC Naples is a 132 metres long, 9,755 tonnes general cargo ship and it is operated by BB Chartering, while Hull Blyth Nigeria Limited is the ship agent. Reacting to the new development, Managing Director of BBC Chartering Mideast Limited, Mr Denis Bandura, said
“Today our vessel ‘BBC Naples’ arrived at the Dangote Lekki Jetty. It is the maiden call at the newly constructed jetty, and BBC Chartering is very proud to have partnered with Dangote Group to make this milestone a reality.
“The vessel is delivering essential equipment for the construction of Dangote Oil Refinery, and BBC Chartering remains committed to provide its full capacity at a strategic level to ensure the successful delivery of this very important project.”
Recall that Africa’s richest man and Billionaire-owner of the Dangote Group, Aliko Dangote recently mobilised over $4.5 billion for his crude oil refinery project through debt financing.
Leveraging on the World Bank’s private sector arm which is providing $150 million for the project, Dangote said lenders would make a commitment of about $3.15 billion, adding that the Central Bank of Nigeria (CBN) would provide guarantees for about N575 billion in local currency for 10 years, while the African Development Bank (AFDB) would be providing a $300 million loan.
The Dangote Refinery has a projected capacity of 650,000 barrels per day, the Refinery is expected to be the world’s biggest single-train facility upon completion in 2020.
The multi-billion dollars refinery will produce various petroleum products including Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.
The project which is expected to generate 9,500 direct and 25,000 indirect jobs, would account for half of Dangote’s sprawling assets when it is completed.
When it becomes operational, Dangote Refinery will help the country to save $5 billion on oil importation, and also aid the country with about $7.5 billion forex savings on importation.