AFC, WALTERSMITH SIGN $35M FACILITY FOR REFINERY PROJECT IN IMO

The Africa Finance Corporation, (AFC) has signed a $35 million debt facility agreement with Waltersmith Refining and Petrochemical Company Limited, for a proposed 5,000 barrel per day (bpd) refinery project which will be situated in Imo state. The refinery is expected to produce 5,000 bpd by the first quarter of 2020 and it would contribute 271 million litres of refined products annually.