An energy park, consisting of a modular refinery, gas processing facility, compressed natural gas plant, a refined product terminal, a 20 megawatts power plant and data centre constructed by Duport Midstream Company Limited and financed by First City Monument Bank (FCMB) is set for completion and commissioning in March.

Infinity Tyres

Mrs. Yemisi Edun, MD/CEO of FCMB, announced this during an inspection tour of the management of the bank to the facility located at Egbokor, Orhionmwon Local Government Area in Edo State last Thursday.

Speaking after assessing the project, Mrs. Edun restated the commitment of the bank to championing and supporting initiatives that would fast-track national development across all sectors of the economy.

According to her, “our partnership with Duport Midstream Company Limited is progressive and will positively impact many sectors of the economy. So, we are excited to fund this project and pleased with the progress achieved. It will help meet part of our local petroleum consumption needs, reducing fuel importation and forex loss when fully operational. Replicating this model will strengthen the value of the Naira in the long run and create job opportunities in the petroleum value chain.

Also speaking, the Chief Executive Officer of Duport Midstream Company Limited, Dr. Akintoye Akindele, restated that the project would be commissioned in March as soon as the government approves it.

He disclosed that “the regulator will come for inspection and ensure that all we designed are ready. Then, we will start testing in the next 30 to 45 days for the government to confirm that it meets all standards. However, this will be delivered in modules. Phase one will be going live in the next 30 days.