Chinese company sign $3.3 billion agreement with Nigerian company for Brass Industrial Park, Methanol complex project 

The China Road and Bridge Corporation (CRBC) has entered into a critical project agreement with its Nigerian counterpart, Brass Fertilizer and Petrochemical Company Ltd for the Brass Industrial Park, and methanol complex project in a deal projected to inject around $3.3 billion into the Nigerian economy.

The Minister of Petroleum Resources, Gas disclosed this on his official X handle stating that the agreement reflects President Tinubu’s agenda to drive industrial growth and energy security in the country.

According to the Minister, the agreement was signed during the ongoing Forum on China-Africa Cooperation FOCAC in China.

It stated, “As part of activities during the ongoing Presidential State Visit and Forum on China-Africa Cooperation (FOCAC), I witnessed the signing of critical Project Agreements for the Brass Industrial Park, Gas Gathering Pipelines & Associated Facilities, and the Methanol Complex Project between Brass Fertilizer and Petrochemical Company Ltd. (BFPCL) and the China Road and Bridge Corporation (CRBC).”

“This partnership is set to inject about US$3.3 billion into our economy, driving growth and innovation in Nigeria’s energy sector which is pivotal in driving Nigeria’s industrial growth and energy security, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.” 

What you should know  

• The Brass Oil and Gas City project aims to position Nigeria as a premier hub for downstream oil and gas manufacturing and industrial activities in Africa. Situated on Brass Island in Bayelsa State, it is envisioned to become one of the world’s largest centers for petrochemical, fertilizer, refinery, and hydrocarbon processing.
• These developments will contribute to the creation of a world-class, export-oriented oil and gas processing city in Nigeria. To date, $3.5 billion in investments have been committed to projects within the Brass Oil and Gas City.
• Brass Fertilizer & Petrochemical Company Limited (BFPCL) is the sponsor of the Brass Methanol Project, a joint venture between DSV Engineering Limited (DSV) and two Nigerian state-owned enterprises—the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Content Development & Monitoring Board (NCDMB). BFPCL will own and operate the joint venture.
• The project is situated in Brass Island in Bayelsa State, Nigeria, comprises various components, including a gas supply network that connects gas fields, wells, and pipelines, a natural gas processing plant, a methanol production and refining facility, product export terminals, and supporting utilities and infrastructure.
• Both the Gas Processing Plant and the Methanol Plant will be located on a 667.5-hectare site at the eastern end of Brass Island, near the St. Nicholas River and bordered to the south by the Atlantic Ocean.