Gulf of Guinea Oil Exploration Limited (GGOEX) has announced the establishment of a $700 million (N109.02 billion) methanol plant in Nigeria in 2015. The plant, with a capacity of 850,000 metric tonnes of Methanol productions annually will be the largest in West Africa. The company said it has selected the Mitsubishi Methanol Process (MMP) as process technology for the establishment of the plant. The “Delta Methanol Plant” has a nameplate capacity of 2,500 metric tons of Federal Grade AA Methanol per day which is a key product for the chemical and petrochemical industry in the production of Acetic Acid (solvents), MTBE (octane enhancer), Formaldehyde (resins, adhesives) and others. The new plant is expected to come online in 2015. The project will be the first commercial-scale installation of the MMP process in Methanol production technologies in West Africa and would be located at the Gas Industrial park in Delta State. The cost of the project will debt-equity financed by International Financial Corporation (IFC) and fund syndication from local banks. GGOEX is currently processing a Due Diligence Assessment with the Gas Aggregation Company of Nigeria (GACN) and discussions with the Federal Government of Nigeria are on-going. The project is expected to enhance the monetization of Nigeria’s huge Gas potentials. Project Co-coordinator, Emmanuel Ejemurua, an engineer disclosed that the objective is to develop, own and operate Nigeria’s first methanol manufacturing and exporting plant, in accordance with the aspirations of Nigeria’s Gas revolution for the diversification of the country’s economy and development of midstream industries from gas resources. He also stated that global demand for methanol was growing at around 4 percent annually. “The Delta Methanol Plant is ideally located to supply its major export markets in Europe and expectations are high that it will produce a competitive product, bring added value to society and further contribute to industrial growth in Nigeria.” GGOEX is an Integrated Energy Company established to take advantage of the opportunities available in the Gulf of Guinea by engaging in the exploration, development and production of Gas Assets in established and emerging frontiers in the Gulf of Guinea.

Demdem: Am happy for this. Hope it comes up on schedule.

wesley80: Yeah it should. A little acknowledgement that the "retardeen" must be doing somethings right wont be out of place.

Demdem:

and where were u when i rated the Retardeen 9% since the beginning of this admin? if he is completely idle, i would have rated him 0%
Whatever he may be doing is still so minute and nothing to write home about especially when u place it side by side with the resources at his disposal (economic/human/financial)

wesley80: If a honest analysis of your entire life accomplishments so far were to be rated using same yardstick used in scoring GEJ 9%, what do you think you'll score? Honestly now.

Demdem:

Am no public figure, the retardeen is and its his choice. Yours is none of my business the same way mine is none of ur business. Again i re-iterate 9% for the retardeen

wesley80:
My friend score yourself and stop giving flimsy excuses.

I have and its none of ur business. DEAL WITH THAT

Demdem:

and where were u when i rated the Retardeen 9% since the beginning of this admin? if he is completely idle, i would have rated him 0%
Whatever he may be doing is still so minute and nothing to write home about especially when u place it side by side with the resources at his disposal (economic/human/financial)

lorddannie: when have you become a rating agency? Demdem retardeen rating agency!

bory09: This a good development. But the completion of the project is something to worry about

Demdem:

Am no public figure, the retardeen is and its his choice. Yours is none of my business the same way mine is none of ur business. Again i re-iterate 9% for the retardeen

kingmackey: "The new plant is expected to come online in 2015. The project will be the first commercial-scale installation of the MMP process in Methanol production technologies in West Africa and would be located at the Gas Industrial park in Delta State".

There is already a functioning Methanol Plant in Bioko Island in Equitorial Guinea. I wonder if Equitorial Guinea is not in West Africa.
So they should not bambozoo us with this lie

deletrue: some of your kind is just in existence without reasons. Of what are you if you are for the sake that you are only a human because you have two eyes, two legs etc otherwise you are nothing but empty drum making meaningless noise. Seriously, some of you requires some instructive lessons to convert your entity. What is none of your business, none of my business, so whose business is it? Why must you comment here if it is no body's business?

And left to u, u feel u have made sense right? To be honest, i think u are dumb.
If i had given him a figure, how will he be able to ascertain if what i gave was true or not? At the end of the day, he will simply talk crap that has no basis because he knows absolutely nothing about the subject matter. i would have also love him starting from his humble self
In contrast, the retardeen is different. No body is interested in assessing him as regards his personal life but public life and that explains my convictions.

wesley80: If a honest analysis of your entire life accomplishments so far were to be rated using same yardstick used in scoring GEJ 9%, what do you think you'll score? Honestly now.

This was too mean of you Wesley80

Demdem:

And left to u, u feel u have made sense right? To be honest, i think u are dumb.
If i had given him a figure, how will he be able to ascertain if what i gave was true or not? At the end of the day, he will simply talk crap that has no basis because he knows absolutely nothing about the subject matter. i would have also love him starting from his humble self
In contrast, the retardeen is different. No body is interested in assessing him as regards his personal life but public life and that explains my convictions.