CURRENT PROJECT

Executive Summary

The project is the development and delivery of a pre-engineered modular unit of a 1 MTPA (3,000MTPD) Methanol Facility; from china where it would be fabricated off-site and transported to the project site through crates to Akwa-Ibom State in Nigeria for final assembly. Gulf of Guinea Methanol Limited (“GGML”) is the Special Purpose Vehicle (SPV) registered in Nigeria to produce and sell Methanol from this project while its Natural Gas feedstock requirement is 100 MMSCF/D.

The project is to be located at the Ibom Industrial City (IIC) Free Trade Zone (FTZ) which overall site occupies approximately 14,517 ha of land and of which the Ibom Deep Sea Port (IDSP) occupies a site of 2,565ha. Total requirement for the GGML project is 50 hectares of land and has already been allocated by the Ibom Industrial City (IIC).

The proposed project would ensure the utilization of Methanol and it’s derivatives in Nigeria in order to kick-start a Chemical Industrialization. The Project will contribute to creating jobs as well as being an important milestone for the chemical industry in Nigeria. Formaldehyde has been identified as one of the key enablers to unlock various chemical industries with various applications of their products as the demand in Nigeria increases.