The timely realisation of the proposed 10,000 barrel per day modular refinery located inside the Abia Industrial and Innovation Park (AIIP), Owaza, Ukwa West local government area of Abia State, being undertaken by the HSI Energies Group is sacrosanct.
Abia State, Governor Dr Alex Otti stated this while receiving in audience, the Management of the HSI Energies Group led by its Group Chief Executive Officer, Mr. Ugwumba Chikezie Nwosu who came to give him the status update on the activities of the company preparatory to the commencement of work at the site.
Governor Otti assured of his commitment to the realisation of the project expected to provide 1000 direct jobs and countless indirect jobs to Abians, adding that the Abia Industrial and Innovation Park sitting on about 2000 hectares of land is capable of accommodating many industrial companies.
The Governor noted that the vast area in the AIIP Owaza is designated for a gas-powered industrial ecosystem, including energy, logistics, housing, modular refinery, petrochemical plants, fertiliser companies and clean infrastructure.
He retreated his administration’s resolve to providing a conducive business environment for businesses to thrive.
He appreciated the Group Chief Executive Officer of the Company for deciding to locate the modular refinery in the State and expressed confidencec that it would contribute to the growth of Abia’s economy.
In his presentation earlier, the Group CEO, HSI Energies, Mr. Ugwumba Chikezie Nwosu, told the Governor that the project had reached an advanced stage while equity sourcing, debt financing among others are in progress.
According to him, the refinery would be developed in phases, stressing that the socio-economic impact would be immense, ranging from training opportunities for Abians in the refining, oil and gas business to local access to petroleum products.
Ugwumba Nwosu while revealing that the refinery is 10,000 barrels of oil per day, noted: “that’s what the licence is. And for each 10,000 barrels per day, there will be about 1,000 direct jobs created in Abia State. We intend to get to 30,000 barrels per day.
“The only thing stopping us from going to 30,000 immediately is that we have to source the crude oil that we will refine. So, by the time we get to 30,000, that means 3,000 direct jobs and many indirect jobs.
“For each 10,000 barrels of oil per day refinery, the tax that will come to the Government’s internally generated revenue from tax will be about $68 million per annum.
He thanked the Governor for the construction of the access road leading to the refinery and assured that construction would commence in the first quarter of 2026.
