Waltersmith refinery to build an industrial park in Imo

Waltersmith Refinery located in Ohaji Egbema, Imo State says it is working with UNIDO to develop an industrial park in the State.

According to the CEO of the refinery, the industrial park is to be developed with the support of the United Nations Industrial Development Organization and the United Nations Economic Commission for Africa

Special Assistant to Governor Hope Uzodimma, Goodluck Opiah, who represented the Governor, on his part said the Industrial Park will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain.

The Waltersmith refinery located in Imo state is the biggest commissioned modular refinery in Nigeria. The African refinery project is being developed in phases by Waltersmith Refining and Petrochemical Company, a subsidiary of Nigeria-based Waltersmith Petromen Oil.

The phase one refinery development with an initial capacity of 5,000 barrels of crude oil a day (bpd) started operations in November 2020.

Waltersmith Refining and Petrochemical Company is a joint-venture between Waltersmith Petroman Oil (70%) and the Nigerian Content Development and Monitoring Board (30%).

Waltersmith was granted a license by Nigeria’s Department of Petroleum Resources to establish the refinery in June 2015 and received the construction approval in March 2017. The final investment decision (FID) on the phase one refinery project was reached in September 2018.