Nigeria agrees multi-billion dollar infrastructure deals

Source Alpha Capital InternationalOilserv, Chongqing Construction Engineering Group, Tianjin Energy and Alpha Group of Companies have signed multi-billion dollar MOAs to develop Nigeria’s oil and gas Infrastructure (Source: Alpha Capital International)A raft of high profile investment and infrastructure projects to develop crude oil and gas pipelines, oil refineries, ports, highways and railways in Nigeria have been announced.

Eight memorandum of agreements (MOAs) were signed in Abuja last week by Chongqing Construction Engineering Group Company, Tianjin Energy Resources, Oilserv and Alpha Group of Companies. 

The agreements, which are supported by project financiers' Industrial and Commercial Bank of China (ICBC) and Standard Bank of South Africa, will set the stage for jointly developing, constructing and co-financing projects in the country.

The four companies will deliver formal proposals to the relevant authorities, undertake joint feasibility studies, and participate in steering committees with major stakeholders including the Nigerian National Petroleum Corporation, Nigerian Port Authority and Federal Ministry of Transportation.

Chongqing Construction Engineering Group Company chairman/party secretary general Yang Jingpu said, "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.

Tianjin Energy Resources managing director Peter Lin commented, "With strong financial and technical support from CCEGC, proven indigenous experience in constructing pipelines from Oilserv and development leadership from Alpha Group, Tianjin is proud to join forces in building Nigeria's much needed infrastructure."

Alpha Group of Companies chairman Sheikh Mohamed Bayorh added, "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 industrialisation."

 

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