AGMC and CNCEC Sign $20B MoU to Implement Ogidigben Gas Revolution Industrial Park in Nigeria
On 15 January 2025, The Alpha GRIP Management Company (AGMC), a subsidiary of the UAE-based Alpha Group, singed an MoU with the China National Chemical Engineering Corporation (CNCEC) to implement the Ogidigben Gas Revolution Industrial Park (#GRIP) which is estimated to cost about USD 20 billion. The signining ceremony was witnessed by the DG of the Nigeria-China Strategic Partnership (NCSP) Joseph Tegbe.
The Ogidigben GRIP project comes right after the FOCAC Summit (#FOCAC2024) which took place in Beijing in September 2024 when Nigerian President Tinubu met with Chinese President Xi. The Industrial Park will specialize in the large-scale transformation of the natural gas of Nigeria and will become the largest gas transformation base in Africa.
CNCEC President LI Zhenyu underscored that Nigeria is a strategic market within the company’s global expansion plan. He pointed out to the Petrochemical Refinery Complex that his company recently completed for Dangote Group.
AGMC President Mohamed Bayorh expressed his appreciation to the Government of Nigeria and CNCEC for their partnership and their roles in facilitating this deal. He commended Nigerian President Tinubu’s reforms to make Nigeria a more appealing destination for #FDI. He also acknowledged the support of the Minister of Petroleum Ekperikpe Ekpo and the Nigeria National Petroleum Company CEO Mallam Kyari on the GRIP project. The project was first raised back in 2017 and it took several years to arrive at today’s agreement.
The Ogidigben GRIP project occupies 2,700 hectares of land in the coastal Delta State in southern Nigeria and encompasses a power plant, a gas liquefaction plant, a fertilizer plant, a methanol plant, and even an aluminum smelter. AGMC has assembled a consortium of investors worldwide and the combined investment is expected to exceed USD 100 billion when the Industrial Park is fully built.
