BUA Group, one of Africa’s largest conglomerates in foods, mining, manufacturing, and industry, has entered into a partnership with CIMC ENRIC, a global leader in the energy equipment industry. The two companies have signed a Memorandum of Understanding (MOU) to build a 700-tonne-per-day mini LNG plant in Nigeria.
The partnership between BUA Group and CIMC ENRIC is considered a major milestone for the Nigerian conglomerate as it expands into the energy sector. BUA Group said it is committed to utilising sustainable energy solutions across its business operations, and this partnership will further support this objective.
In addition to the development, the partnership is expected to not only expand the company’s operations into the energy sector but also contribute to Nigeria’s overall energy supply, helping to meet the country’s growing demand for energy.
Abdul Samad Rabiu, Chairman of BUA Group, stated that the partnership with CIMC ENRIC is in line with the company’s environmental, social, and governance (ESG) commitments and sustainability initiatives.
Rabiu explained that BUA has been relying on natural gas as a major source of energy for its operations across its over 1,000MW captive power plants ,and that the mini LNG project will further support the company’s power needs.
The BUA chairman further noted that the mini LNG plant will not only benefit the company’s power needs but also contribute to its broader environmental sustainability efforts. He explained that the plant will utilise the latest technology, including cryogenic storage tanks and a liquefaction system, to minimize emissions and ensure efficient operation.
“We are excited about the prospects of this project and look forward to a fruitful collaboration with CIMC ENRIC and Axxela,” he added.
The signing of the agreement was a momentous occasion for both companies, symbolizing the significance of the mini LNG plant for the region’s energy landscape and Nigeria’s broader energy goals. The agreement was signed by representatives from both companies, who expressed their enthusiasm and support for the project.
