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Nigeria Approves Petchem Investment

The Nigerian government has approved investments worth $7 billion for the establishment of a petrochemical industry and other projects in the country’s Akwa Ibom state.

Ibe Kachikwu, Minister of State for Petroleum Resources, made the announcement during a town hall meeting at a local hotel in Uyo.

Kachikwu said the investment would also facilitate the construction of a 500-MW power plant being initiated by Mobil Producing Nigeria in addition to other projects. Kachikwu described the investment as the biggest in the region.

Source : www.petroleumafrica.com
Posted On: 6/17/2016 12:00:00 AM

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