Backbone Infrastructure Nigeria Limited (BINL) has unveiled plans to build a 500,000 barrels-per-day oil refinery in Ondo State’s Ilaje Local Government Area. The facility will span the Sunshine Industrial Park in Ogboti, Eruuna, and the Sunshine Free Trade Zone.
The $15 billion project is a joint venture with the Ondo State Government, represented by the state’s Development and Investment Promotion Agency (ONDIPA).
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According to BINL, the refinery’s first phase is expected to be completed within 48 months. Talks are also ongoing with NNPC Limited for potential technical and strategic collaboration.
Following a visit to Governor Lucky Aiyedatiwa, BINL is set to sign formal agreements with ONDIPA.
The refinery is designed to serve local and international markets and includes supporting infrastructure such as roads, terminals, storage tanks, and facilities for Free Trade Zone operations.
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