French President invites BUA chairman as company sign deal on 200,00bpd refinery

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CBN

Olusola Bello
French President, Emmanuel Macron, has invited the chairman of of BUA Group, Abdulsalmad Rabiu, to attend Choose France Summit in June this year.
BUA group confirmed this development Wednesday via its offical  twitter  account.
According to the company, the French Minister for Foreign  Trade and Economic Attractiveness, Franck  Riester, handed the invitation to the chairman.
The French president, Emmanuel Macro commended the chairman,BUA Group, Rabiu abdulsamad for his commitment to developing lasting relationship between French and Nigeria businesses.
The French Minister for Trade and Economics paid a visit to BUA group headquarters in Lagos, where he handed over the invitation to attend the summit Mr Abdulsamad Rabiu.
Also , on Wednesday, BUA signed a deal with with Axens Group for its Proposed 200,000 barrels per day refinery in Akwa Ibom.
The refinery is projected to be operational by 2024. This would be coming up two years after Dangote Refinery would have commenced operation in 2022.
According to BUA, the French Minister also witnessed the signing of a progress acknowledgment statement between BUAgroup and AxensGroup for BUA’s proposed 200,000 per day refinery in Akwa Ibom.
BUA and Dnagote have in recent times not been best of friends, especially in relations to the market activities of their products.
The BUA chairman recently complained that cement producers are profiteering at the expense of  Nigerians, adding that the government favours certain players  in the industry, claims which were promptly but  denied by the DevakumarEdwin a director with Dangote group.
Dangote had petitioned the Minister for Trade and  Investment, protesting the recent commissioning of BUA  Sugar  Refinery in Port  Harcourt, Rivers  State.
Dangote in the petition claimed it was assured by the Federal Government in 2019 that no  new refinery will be allowed  to operate in the country.
BUA on Wednesday signed a deal with with French energy Technology company Axens Group for  its Proposed 200,000 barrels per day refinery in Akwa Ibom
The refinery is projected to be operational by 2024, while Dangote  Refinery will commence operation next  2022.
According to BUA the French  minister of trade also witnessed the signing of a progress acknowledgment statement between BUA Group and Axens Group for BUA’s proposed 200,000 per day refinery in Akwa Ibom

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