Nigeria: Union Bank Finances N46 Billion Gas Plant

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."

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.