In Delta Union Bank to spend N4bn on gas plant

The bank explained that the funds would aid the renovation and improvement of the plant to enable it function at full capacity.

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Worker at a gas plant in Nigeria (File photo) play

Worker at a gas plant in Nigeria (File photo)

(Star Africa)
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Union Bank of Nigeria (UBN) is set to spend N4 billion to restore the Egboama Gas Plant in Delta State.

The bank explained that the funds would aid the renovation and improvement of the plant to enable it function at full capacity.

UBN Executive Director, Corporate Banking Emeka Okonkwo explained that the bank is pleased to support PNG Gas Limited, which owns the plant, with the finances.

Okonkwo added that the project would enhance efforts towards increasing domestic utilization of gas in the country and reduce dependence on oil.

The Egboama plant is expected to produce about 101 tons of liquefied petroleum gas per day at full capacity.

The plant is also projected to produce 38 tons of propane gas per day, 750 barrels of natural gas liquids as well as 25 million standard cubic feet of lean gas per day. 

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