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Raising

Gas processing, refining and export hub, southern Nigeria

USD 10m for engineering (FEED), licensing, EIA and studies; 1 per cent non dilutable equity in the project for USD 1,000,000, larger amounts pro rata

Ticket
USD 10m
Stage
Development
Sector
Energy and energy transition, Refining and gas processing
Region
Nigeria

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A bulk carrier moored at a coastal quay with dockside cranes and silos in morning haze

The opportunity

A gas processing, refining, petrochemical, fertiliser and export hub planned on a 4,000 hectare coastal site in southern Nigeria, at the pre-development stage. The first phase is a refinery of 500,000 barrels a day with a first phase capital cost of USD 2.5bn, to be met by project finance that is not yet arranged. This USD 10m raise funds engineering (FEED), licensing, the EIA and land and marine studies, ahead of a USD 100m raise before the construction financing. Development capital of this kind may be lost in full if the project does not proceed. The teaser and its Important Notice download after a short form; the terms are in the term sheet available to interested parties.
  • A 4,000 hectare coastal site in southern Nigeria
  • A first phase refinery throughput of 500,000 barrels a day, at a first phase capital cost of USD 2.5bn
  • The full terminal programme is costed at USD 20.8bn across three phases
  • Sponsor estimate of USD 7.8bn of revenue a year for one 250,000 barrel a day train
  • Payback of 6 to 12 years, the sponsor's estimate, depending on refining margins

Key facts

Structure
USD 10m for engineering (FEED), licensing, EIA and studies
Equity
1 per cent non dilutable equity in the project for USD 1,000,000, larger amounts pro rata
Site
4,000 hectares on the coast
First phase
500,000 barrels a day; USD 2.5bn capital cost
Full terminal programme
USD 20.8bn across three phases
Payback
6 to 12 years, sponsor's estimate
Listing stage
Open for enquiries
Capital band
USD 3-15m
Last updated

On file

  • Teaser and Important Notice
  • Term sheet
  • Sponsor's project documents

Documents

The teaser downloads after a short form. Everything else is released after a non-disclosure agreement and the owner's release.

The project

A large industrial plant under construction on open ground at dusk
An industrial plant under construction.Illustration

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