Home / Knowledge / News / Textiles / USTDA partners Honeywell for Nigerian petrochem production
USTDA partners Honeywell for Nigerian petrochem production
25
Mar '14
The U.S. Trade and Development Agency (USTDA) has awarded a US$ 257,000 grant to Honeywell Group Limited (Lagos, Nigeria) for a project that will assess different product streams for petrochemical facilities in Nigeria.
 
Under the project, a feasibility study will be carried out, which will include an analysis of alternative petrochemical facilities including methanol, and petrochemicals that could produce ethylene, propylene, or benzene products, a USTDA press release said.
 
The study will recommend which of these facilities should be included in the proposed gas-based industrial complex, the size and scale of the facilities, the sources of feedstock and the optimum location for the various options.
 
In addition, the study will assess the domestic and international markets for the output of the facilities, as well as the capital costs required, which could exceed US$3 billion.
 
In addition to USTDA's $257,000 contribution under the grant agreement, Honeywell Group will contribute $257,000 toward the completion of the study, for a total project cost of $514,000.
 
During the signing ceremony, Dr. Teddy Ngu of Honeywell Group stated, “We believe our initiative will lead to an attractive and executable project which will stimulate employment and economic growth throughout Nigeria. This partnership will help kickstart our initiative and we look forward to continuing to work with USTDA to achieve our goal of developing a world-class gas-based industrial complex.”
 
The feasibility study will assist Honeywell Group in helping to realize Nigeria’s potential within the petrochemical market. 
 
Nigeria is currently the twelfth largest producer of petroleum and possesses the seventh largest natural gas reserves in the world.  However, according to The World Bank, Nigeria is second only to Russia in the volume of gas flared, and its gas reserves are mostly unutilized.
 
According to the statement, the opportunity to conduct the USTDA-funded feasibility study will be competed on the Federal Business Opportunities (FBO) website and interested US firms can submit proposals according to the instructions in the FBO announcements.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search