Chief Executive Officer, HSI Energies, Chikezie Nwosu, has said that the company’s modular refinery, being constructed in Owaza, Ukwa East Local Government Area (LGA) of Abia, will provide 3,000 direct jobs to Abia people.
Nwosu disclosed this on Wednesday, while giving an update on the refinery’s progress, when he visited Gov. Alex Otti at Umuehim Nvosi, Isiala Ngwa North LGA.
He also said that the refinery would generate $68 million to the Abia Government, when fully operational.
He said that the construction of the refinery would start by the first quarter of 2026.
“The refinery is one of the 10,000 barrels per day (bpd) for the licence and this will bring about 1,000 direct jobs.
“We intend to get to 30,000 bpd. The only thing stopping us is to first source the crude and by the time we get to 30,000 bpd, that means 3,000 direct jobs.
“For each of the 10,000 bdp, the income that Abia Government will get is about $68 million,” he said.
Nwosu also said that the investment would bring in about $300 million dollars in Foreign Direct Investment (FDI) to the state by the time they get to 30,000 bpd.
According to him, these first two phases would bring about $100 million of FDI for the modular refinery section.
“It will create training opportunities, develop people and refining business as well as oil and gas business in Abia State, so there are quite a lot of benefits.
“We will start construction by first quarter of 2026. We already have a contractor, Cakasa, which will do the civil works and the tank farm.
“We also have the American contractor, D-Fields LLC of America, which will build the crude distillation unit, and it’s doing the design now,” he said.
Nwosu said the company had another conversation with some American partners, which would want to bring processing to the Owaza Industrial Park.
He said that the processing includes palmwine and pharmaceuticals, using traditional medicine.
He said the processing of palmwine and pharmaceuticals will come later when there would be available energy in the park, adding that the company was currently working on that now.
Responding, the governor commended the company for having moved so fast, considering the length of time refinery processes take.
He said that Abia would not want to hold “a significant equity” in the company, adding that his interest was in job creation for the residents.
Otti emphasised the need for the company to consider petroleum value chain addition, pointing out that operating a refinery without its value chain is loss-making. (NAN)