Edo Modular Refinery to earn $125m per annum from Naptha export, reset state’s economy
The Edo Modular Refinery being developed by Edo Refinery and Petrochemical Company Limited (ERPC) with support from the Edo State Government is set to earn about $125m foreign exchange from the exportation of naptha, which is one of the major products from the facility.
Chairman of ERPC, Michael Osime, who disclosed this in a statement, said the refinery benefits from the federal government’s ease of doing business programme through which it granted fiscal incentives such as duty waiver on importation of equipment.
The refinery has reached 90 percent mechanical completion and efforts are in top gear to beat a September 2020 commissioning deadline, with a team of over 250 locally-recruited engineers, fabricators and other workers engaged on the project…
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