Wednesday, April 26, 2017 5:26 pm
After its licence was granted by the government of that country, all is now set for ECOWAS Refinery in Liberia
By Abubakar Hashim/Monrovia
Based on the Memorandum Of Understanding (MoU) by ECOWAS Refinery Liberia Limited, approvals licence to construct and supply to the international markets were given by the government of Liberia recently to ECOWAS Refinery Liberia Limited (ERLL) and its consortium partners, Kellog Brown and Root (KBR), PetroChina, Siemens and other international conglomerates.
The approval licences now authorized are into two categories: It authorizes the refinery company to construct a 100,000 barrels per day crude oil refinery in Buchanan, Grand Bassa County, Liberia, with which the Liberia Petroleum Refinery Company (LPRC) is a joint venture development partner. The land for the project has been acquired by LPRC.
The other category is the licence to export refined petroleum products to the international markets by ERLL and its global products and conglomerates. It empowers the marketing arm and ERLL, ECOWAS Energy Petroleum Marketing Corporation Liberia (EFPMCL) and its international partners to export refined petroleum products to neighbouring West African countries and international marketers. This is after meeting the local demand of products required by LPRC and the government of Liberia.
The licence was granted in line with Article 8 of the Memorandum of Understanding (MOU), signed between LPRC, ECOWAS Refinery Liberia Limited, ERLL and its joint Venture partners on 8 January 2014 in Liberia.
All is now set for a major international business undertaking in Liberia, with its massive economic benefits to Liberia, its neigbhouring West African countries and beyond. Aside from employment opportunities to Liberians and foreigners, it will alleviate the perennial fuel shortages in the African markets, remarked Chief Tony Chinyere ( a Nigerian), the Executive Vice Chairman of ERLL. The issuance of these licences has now paved the way for the cutting of tape of the project by Madam President in the shortest possible time,’’ Chief Tony further revealed.
The government and people of Liberia are basking in joy and harmony for this long-awaited project that will inevitably turn around the economic fortunes of the country. The refinery project will infuse economic benefits to Liberia, irrespective of who wins the up coming elections slated for later this year.