The Governor of Edo State, Mr. Godwin Obaseki, is finalising investment decisions with partners in China for the development of the Edo Modular Refinery, Benin River Port and the Benin Industrial Park, on the sidelines of the 7th Summit of the Forum on China-Africa Cooperation.

The governor is in China, with Nigeria’s President, Muhammadu Buhari, who led the country’s delegation to the summit, where it is expected that both nations will strengthen investment ties and boost bilateral trade. The state government had earlier signed Memorandums of Understanding (MoU) with some of the companys during an earlier visit to China, and the input from the Federal Government for the projects would clear the way for their take-off.

The Chinese companies include the China Harbour Engineering Company (CHEC) Limited, which has concluded preliminary work for the commencement of the Benin River Port, in Gelegele. Three developers have been penciled down to spearhead the development of the Benin Industrial Park while a Chinese consortium made up of Peiyang Chemical Equipment Company of China (PCC), SINOPEC International Petroleum Service Corporation (SIPS), which is a subsidiary of SINOPEC and African Infrastructure Partners (AIP), are to develop the Edo Modular Refinery, which is expected to gulp N2.1 billon.

Source: Vanguard