The government of Niger has signed an agreement with the international company Zimar Group for the construction of an oil refinery in Dosso worth over $1.9 billion (1.077 trillion CFA francs), ANP reported on August 15.
The document was signed by Foreign Minister Bakary Yaou Sangaré and Zimar Group and High Tech CEO Benjamin Day Mark.
"The agreement presented for signing between the Republic of Niger and the Zimar Group of companies concerns the design, financing, construction, operation, and transfer of an oil refinery with a capacity of 100,000 barrels per day, as well as a petrochemical complex in Dosso," Sangaré stated.
The project will be implemented as a public-private partnership and is designed for 16 years: three years for construction, 13 years for operation, after which the facilities will be transferred to the state.
According to Sangaré, the project will allow Niger to diversify its partners, process more of its own resources domestically, and strengthen its industrial capacity.
Zimar CEO Benjamin Day Mark stated that the company intends to create thousands of jobs for Nigerien youth, ensure knowledge and skills transfer, and contribute to the stable supply of petroleum products to the country at controlled prices.
Zimar Group also plans to develop related infrastructure, including pipelines, storage facilities, and an industrial platform. After the refinery is launched, part of the production is expected to be directed to the markets of neighboring countries.
In February, Niger's Minister of Petroleum, Amadou Tinni, stated that the development of Niger's oil sector would become a "lever" for ensuring the country's economic sovereignty and fiscal stability.
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