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Arco Petrolchemical Opens Pp For N3.125bn - Business - Nairaland

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Arco Petrolchemical Opens Pp For N3.125bn by RYSB: 8:40am On Oct 20, 2008
Arco Petrochemical Engineering Company is a company that provides services to the Oil and Gas Sector. The company has been in business since 1980 and boasts of a highly skilled Management staff. It is also an indigenous firm operating in the energy sector.

Arco Petrolchemical Engineering Company limited is seeking to raise N3.125 billion through a Private Placement of 1,250,000,000 Ordinary Shares of 50k each at N2.50 per share. Already the Company has Issued and Paid up capital of N1.235 billion. The purpose of the Placement is to facilitate human capital and infrastructural expansion, and to increase its working capital needed to handle increasing business transactions. FutureView Financial Services Limited is a Joint Issuing House alongside Greenwich, Oceanic Capital and Sterling Capital.

The Company’s Corporate Head Office is in Lagos and it also has 3 branch offices at Port Harcourt, Warri and London. It maintains a partnership agreement with not only General Electric (GE) for the supply of equipment to the Energy Sector but also other reputable multinationals which includes Hyundai Heavy Industries of S. Korea, Japan Steel Works and Global Industries in United States.

The principal objective of the company is to grow and develop into the leading engineering products and services group owned and managed by Nigerians challenging international companies in the energy sector of the Nigerian economy. Already the company is pursuing this goal through Diversification: The 3 operating subsidiaries listed below will provide the base to achieve substantial growth over the coming years


ASCOT-ARCO Power Ltd produces and market intelligent generator sets which is unique in the market and has high demand

ARCO Maritime & Oil Services is developing to become a leading Oil field Transport and Services Company providing services to upstream Oil firms

ARCO Pipeline Solutions Limited is strong enough to attract and manage retainership mandates for oil companies. It’s chances has been enhanced by Government’s policy on local content.

For More news and private placement information, log on to www.reportyourstockbroker.com

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