Lagos — A Romanian company is set to establish refineries in both Delta and Lagos states.

The company, BSM International petroleum refinery and petrochemicals Limited, has said it will recover oil, diesel, petrol and kerosene when it commences operations with an expected initial daily turn out of over 17 barrels per day.

The quantity is to rise to 200 barrels per day with operations further extended to other states of the Federation and already, 250 hectares of land has been given for the situation of the site.

The president and chairman, board of directors of the company, Lateef Lai Ogungbadero, made this known when a delegation of the company paid a working visit to the Nigerian Investment Promotion Commission (NIPC) in Abuja.

He disclosed that the company, whose headquarters is located in Romanian, is expected to employ about 10,000 Nigerians, some of who will undergo training in Romania and also have Romanian partners.

According to him, the company will also establish transportable stations aimed at taking care of the industrial and other areas which will be done in collaboration with the Nigerian National Petroleum Corporation (NNPC).

Already, it has appointed some local group freight forwarders to handle equipments coming into the country for the commencement of the project which is expected to take off towards the end of this month.

The president, who did not state the amount of money that will be used for the establishment of the company, revealed further that it has entered into discussions with some ECOWAS countries in a bid to extend the project to those countries.

Ogungbadero thus enjoined the Federal Government and state governments involved to provide adequate security for both staff and equipments in order to enhance smooth operations.

Similarly, the executive secretary of NIPC, Engr. Mustafa Bello, who was represented by Dr. Ghaji Bello, director, investor relations of the NIPC commended the company and its idea of extending operations to other states.

He said the reasons for the commencement of operations in Lagos and Delta is born out of the fact that Lagos State consumes the highest quantity of fuel in Nigeria and Delta is one of the oil producing states with abundant raw materials.

Bello, who noted that the refineries in Nigeria are moribund, said the country needs projects to solve its problems especially in relation to oil.