Latest news with #R36.05bn
TimesLIVE
22-05-2025
- Business
- TimesLIVE
Nigeria's Dangote refinery agrees to export polypropylene with Vinmar
Dangote Petroleum Refinery and Petrochemicals said it will partner with Vinmar Group, an international petrochemicals distribution company, to bring Dangote polypropylene to global markets. Dangote's $2bn (R36.05bn) petrochemical plant in Lagos with 830 metric ton (mt) capacity, began producing polypropylene in March, in 25kg bags for the local market. "We're pleased to partner Vinmar to introduce Dangote Polypropylene to the global markets," said Fatima Aliko Dangote, an executive director at Dangote Group at the launch of the facility on Wednesday. Nigeria currently imports 90% of its annual polypropylene requirements amounting to 250,000mt per year. The Dangote facility seeks to not only meet local demand but become a net exporter Fully operational, the facility is set to become Africa's largest polypropylene production site, producing from two polypropylene units with capacities of 500,000mt/year and 330,000mt/year.
TimesLIVE
22-05-2025
- Business
- TimesLIVE
Morocco's OCP to produce 3-million tons of green fertilisers by 2027
Moroccan phosphates and fertilisers producer OCP plans to produce 3-million metric tons of fertilisers using renewable energy by 2027 to reduce its carbon footprint, a managing director at the company, Ahmed Mahrou, said on Wednesday. In 2023 OCP said it will invest $12bn (R36.05bn) to power its industrial plants with renewable energy by 2027. It also aims to achieve carbon neutrality by 2040. Last year the state-owned group produced 14-million tons of phosphate-based fertilisers. Reuters
