Nigeria: AFC Grants Waltersmith $35m Facility for Refinery Project

18 July 2018

The Africa Finance Corporation, (AFC) has signed a $35 million debt facility agreement with Waltersmith Refining and Petrochemical Company Limited, for a proposed 5,000 barrel per day (bpd) refinery project to be situated in Imo state.

The agreement, which was signed yesterday, expected to produce 5,000 bpd as early first quarter of 2020, would contribute 271 million litres of refined products annually. It would cater to states in the eastern region.

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