Eleven private firms have shown interest to partner with the Ondo state bitumen exploration and Exploitation Company (BEECON) through the state Development and Investment Agency, ONDIPA to commence the exploitation and exploration of the abundant bitumen reserves in the state. Ondo state is reputed to have the second largest bitumen deposit in the world and the largest in Africa with over 42billion reserves of the highest quality.

Governor Oluwarotimi Akeredolu, SAN had made relentless efforts to attract the attention of world class firms to the natural endowment in the state. Arakunrin Akeredolu had last year hosted diplomatic communities to a dinner in Abuja to showcase the various investment opportunities in ondo state to the outside world. High commissions and embassies that were present at the dinner included Britain, China, Australia, India, Japan, Korea, Ghana, Ethiopia and South Africa.

The following are the latest development in Bitumen exploration of Ondo state Government:

- The first ever bitumen mining licence, giving to southwest bitumen, was achieved by this government.

- It is expected that the first processed bitumen to be used on Ondo State roads will be applied in Q1 2019. The Akeredolu administration will be the first to successfully produce bitumen commercially in Nigeria.

- The state government has successfully renewed its four licence blocks and is actively seeking for new investors to partner with to help develop the assets.

With bitumen being produced in Ondo state, federal government will ensure that none of its road contractors imports asphalt and I am sure that many state governments will prefer to buy from Ondo state because it will definitely be cheaper here than imports from outside the country. #ODSGBitumen #AketiAtWork

SOURCE: https://citadelng.com/flash-odsg-partners-eleven-private-firms-to-develop-bitumen-exploration/