For the ongoing construction of the 15000MT LPG storage and Jetty in Port Harcourt, Falcon has secured an N19.41 billion facility. The monies came from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF), the first and only infrastructure debt fund dedicated to and domiciled in Nigeria.
Current status of Falcons 15000MT LPG storage and Jetty in Port Harcourt
The 15000MT LPG storage and Jetty are being built in Rumuolumen, Saipem/Aker Base Road, Port Harcourt, River’s state. This location is close to major gas sources and navigable water routes.
The initial phase of the project comprises the construction of a 10,000 metric ton spherical tank made up of two 5,000 metric tons tanks. It also encompasses the construction of a dedicated jetty and other associated infrastructure. The second phase on the other hand will involve the development of an additional 5,000 metric tons of storage.
Also Read: NSIA and IFC Collaborate To Mobilize $500 Million For Renewable Energy Initiatives In Nigeria.
Overall, the construction of Falcons 15000MT LPG storage and Jetty in Port Harcourt has reached an advanced stage.
Significance of Falcons 15000MT LPG storage and Jetty in Port Harcourt
Falcons 15000MT LPG storage and Jetty in Port Harcourt is set to facilitate and enhance more direct procurement and distribution of LPG. Consequently, this will dramatically lower conventional delivery and storage costs.
Beyond economic gains, according to Prof. Joe Ezigbo, Falcon anticipates significant social benefits. This includes job creation, income growth, health improvements, and environmental sustainability “as our customers and communities transition to cleaner fuel options on a larger scale.”
Prof. Joe Ezigbo is the Managing Director of Falcon Corporation Limited.
Falcons’ commitment to the growth and advancement of Nigeria’s domestic gas industry
According to Audrey Joe-Ezigbo, Falcon is committed to the growth and advancement of Nigeria’s domestic gas industry.
The Deputy Managing Director and co-founder of Falcon, said that as a result, the company is expanding across the gas industry value chain.
