FLASH: Firm To Build $500m Modular Refinery In Ondo

Crown Refinery & Petrochemical Limited, a crude oil refining firm, has signed a MoU with Ondo State government, on Wednesday, 3rd April, 2019, for the building of a $500 million refinery in Ilaje LGA of the state.

According to the CEO of Crown Refinery and Petrochemical limited Mr Kassim Adeleke, the project will create a total of 2000 direct and indirect jobs for Nigerians.

The project is expected to be completed within 36 months from the day of the signing of the MoU.

Every MoU that was signed under Arakunrin Akeredolu-led adminsitration has come to fruition. About 5 industries will soon commence full operation in Ondo State. These are results of the MoUs signed between the present administration in Ondo State and Chinese companies.

Its initial production capacity is 30,000 Barrels per day and it's expected to increase to 60,000bpd within 5 years of production.

It was very sad that the previous administration in Ondo State sabotaged our State's opportunity to get a refinery and got relocated to Lagos State.

The governor had been applauded for making the "Sunshine State" a place for high level of industrialization and to make unemployment, a thing of the past.

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