Union Bank of Nigeria Plc has signed a N4 billion agreement to finance Egboama Gas Plant owned by PNG Gas Ltd, which will provide the required funding for the refurbishment and upgrade of the gas plant located in Delta State.
Commenting on the agreement, the executive director, Corporate Banking, Union Bank, Mr Emeka Okonkwo said: "Union Bank is pleased to be supporting PNG with the financing of Egboama plant which is expected to produce about 101 tonnes of liquefied petroleum gas per day. This project will no doubt enhance efforts towards increasing domestic utilisation of gas in the country and reducing dependence of oil."
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