Table of Contents
- Introduction
- Joint Venture Details
- Stakeholder Engagements
- Government Support
- Commitment to Amenities
- Conclusion
The Ondo State government, along with its investment partners, has commenced the establishment of a refinery with a capacity of 500,000 barrels per day and a free trade zone through the formation of Sunshine Joint Venture Infrastructure Limited.
Sunshine Joint Venture Infrastructure Limited serves as the collaboration platform for its partners – Backbone Infrastructure Limited (BINL), NEFEX Petro Line Limited, and Cooldeal Limited – to work alongside the Ondo State Government, represented by the Ondo State Investment Promotion Agency (ONDIPA), in realizing the refinery and free trade zone.
A statement from the Vice President of Corporate Services at BINL, Barrister Wale Adekola, provided an update on the progress of the refinery and free trade zone projects, noting that NEFEX, BINL, and Cooldeal Limited are represented in the joint venture by various officials.
The statement further revealed that the joint venture team, along with consultants such as China Harbour, China Engineering, and Honeywell UOP, were guided by ONDIPA executives during their visit to the project sites located in the Ilaje area of Ondo State.
During the visit, the team engaged with key stakeholders.
Additionally, the team made a courtesy visit to His Royal Majesty (HRM), the Olugbo of Ugbo Kingdom, Oba Frederick Obateru Akinruntan, before heading to the project sites across the waters.
“The Kabiyesi graciously welcomed the team, particularly the foreign partners, including the team leaders Messrs Egbal, JM, and Maryam, among others. He assured the joint venture team and the Ondo State Government of the Kingdom's full support and the commitment of all stakeholders, including the safety of lives and property for everyone involved in these projects, which aim to benefit all,” the statement indicated.
The team, led by the Chairman of BINL and former Senate President, Ken Nnamani, also paid a courtesy visit to Ondo State Governor, Lucky Aiyedatiwa.
The governor expressed gratitude to the joint venture for choosing Ondo State as its investment destination, emphasizing that this development will foster industrial growth in Ondo and Nigeria as a whole. He also promised a conducive environment to ensure a thriving business atmosphere and a mutually beneficial relationship among all stakeholders.
The joint venture team and ONDIPA reiterated their commitment not only to the successful execution of the projects but also to providing stakeholders with full benefits by delivering modern social amenities, including hospitals, schools, potable water, and settlement centers with essential services.
The Ondo State government is planning to establish a refinery with a capacity of 500,000 barrels per day and a 1,471-hectare Sunshine Free Trade Zone in the Ilaje area of Ondo State.
