BUA Signs Deal to Build 700tons Mini LNG Project
BUA Group, one of Africa’s largest foods, mining, manufacturing, and industrial conglomerates, has signed an agreement with CIMC ENRIC, a global leader in the energy equipment industry, in partnership with Axxela, to establish a 700-ton-per-day mini LNG project in Nigeria.
In a statement, the company said this strategic agreement marks a significant milestone in BUA Group’s expansion into the energy sector and reaffirms BUA’s commitment to sustainable energy solutions across its business operations.
Speaking on this landmark project, the Chairman of BUA Group, Abdul Samad Rabiu, said that BUA Group remains dedicated to utilising cleaner, energy-efficient sources for its operations across Nigeria in line with its short to long-term ESG commitments and sustainability initiatives.
BUA Chair added that whilst BUA already utilizes gas as a major energy source across its over 1,000MW captive power plants for its operations across Nigeria, the mini LNG project upon completion, will enhance the all-year availability of cleaner energy and support BUA Group’s growing industrial power demands.
“We are excited about the prospects of this project and look forward to a fruitful collaboration with CIMC ENRIC and Axxela,” he added.
The agreement was signed by management representatives of BUA Group, CMIC ENRIC and Axxela Group, underscoring the project’s anticipated impact on the regional energy landscape in line with the Nigerian Government’s push to diversify its energy commitments.
BUA Group remains committed to investing in cutting-edge technology and infrastructure that benefits, not only its operations, but also the communities it serves. Naira Devaluation Deepens Economic Crisis in Nigeria