A CCEGC-led group to build oil and gas infrastructure in Nigeria. Chongqing Construction Engineering Group (CCEGC), a Chinese construction company
Chinese-led group to build oil and gas infrastructure in Nigeria
Chongqing Construction Engineering Group (CCEGC), a Chinese construction company, and a group of investors have signed eight memoranda of agreement (MOAs) to build multibillion-dollar infrastructure projects in Nigeria’s oil and gas sector. There had been verbal commitment from China to invest in the Nigerian Oil and Gas Sector.
The consortium comprises of Tianjin Energy Resources, an indigenous Nigerian integrated engineering, procurement, construction and project management company; Alpha Group, a Dubai-based diversified holding conglomerate and Oilserv Limited, an indigenous EPCIC (pipelines & facilities) company.
The agreements were signed in Abuja on Friday by Yang Jingpu, CCEGC’s Chairman/Party Secretary General; Peter Lin, Managing Director of Tianjin Energy Resources; Sheikh Mohamed Bayorh, Chairman of Alpha Group; Emeka Okwuosa, Chairman of Oilserv Limited.
Under the terms of the agreements, the CCEGC-led group agreed to jointly build, finance and construct projects including pipelines, refineries, ports, highways, and railways across Nigeria.
“CCEGC is proud to foster the long-term strategic relationship between Nigeria and China by participating in such high profile projects and bringing our proven experience, track record, and financing capabilities to the partnership. We look forward to working with our partners Alpha Group and Oilserv in Nigeria and the rest of Africa.” Jingpu said.
Chinese and South African Banks to Fund Projects
The projects are to be funded by Industrial and Commercial Bank of China (ICBC) and the Standard Bank of South Africa.
Included in the agreement is that the four project partners will start undertaking joint feasibility studies and participate in joint steering committees with major stakeholders from the government and private sector.
“We are delighted to formally welcome CCEGC, Tianjin Energy, and Oilserv in joining our growing list of strategic project partners for the Gas Revolution Industrial Park in Delta State as well as for our development projects and initiatives in Northern Nigeria for which we remain passionately committed to the regions’ socioeconomic development and industrialization” said Sheikh Mohamed Bayorh.
Founded in 1998, CCEGC is a Chinese government-owned construction company in West China that constructs buildings, highways, bridges, municipal and electrical utilities, tunnels, steel structures, power plants, and parks.