Page 12 - DMEA Week 26

DMEA
neWS In brIef
DMEA
PolICy
Udom lauds security
agencies for keeping Akwa
Ibom safe
Governor Udom Emmanuel has applauded security agencies for their collaborative e ort in sustaining the peace and making Akwa Ibom state a safe haven for investors.
e governor gave the commendation while hosting the commandant, Joint Task Force, Operation Delta Safe, Rear Admiral Akinjide Akinrinade at Government House, Uyo, on Tuesday, July 2. While appreciating the commandant for the visit, Gov Udom urged security agencies not to rest on their oars but to continue policing every part
of the state to keep the criminals at bay.
He emphasized on the need to intensify intelligence gathering so as to deliver precise strikes on all forms of criminality in the Niger Delta region and pledged his administration’s commitment to provide necessary support to boost their operations.
He mentioned that the second phase
of the ongoing rehabilitation project at Wellington Bassey Barracks, Ibagwa would soon commence, assuring that portable water would be provided for the residents.
e governor also drew the attention of relevant security agencies to the menace of drug abuse which he said is prevalent among youths and appealed to them to help eradicate abuse of hard drug as well as sh out hard drug dealers to help stem the tide of crime. Earlier, Rear Admiral Akinjide Akinrinade, who said the courtesy visit was to intimate Governor Udom Emmanuel on activities of his command, thanked him for the logistic support granted security agencies to boost their operations in the state and by extension the Niger Delta region.
He acknowledged the fact that Governor Emmanuel has collaborated with security agencies to make Akwa Ibom one of the safest states in the country. He also noted with delight the rehabilitation project at
the Wellington Bassey Barracks, Ibagwa
in Abak local government area as well as establishment of the Navy Military School and the Command Science Secondary School in the state.
e Naval boss used the occasion to enumerate feats recorded by his Command since his assumption of duty, saying that the Task Force has arrested over 300 criminals who indulged in oil the , pipeline vandalism, destroyed illegal re neries in the creeks and impounded seven ocean going vessels used by the criminals.
Meanwhile, the chairman of Nigerian Young Professionals Forum (NYPF), Moses Siloko Siasia has blamed some governors in the Niger Delta region for not fully tapping into what he called the economic potentials of the region.
naIJ
ComPanIeS
SABIC raises stake in Ar- Razi to 75 per cent
SABIC, a Saudi Arabia-based petrochemical manufacturing company, has signed an agreement with the Japan Saudi Arabia Methanol Company (JSMC) to renew
the partnership with the Saudi Methanol Company (Ar-Razi) for another 20 years Under the agreement approved by
regulatory bodies, SABIC will raise its stake in Ar-Razi to 75 per cent, reducing JSMC’s shareholding in Ar-Razi to 25 per cent.
JSMC will pay more than US$1.3bn to SABIC for renewing the joint venture
partnership, which SABIC will use, in part or whole, to nance the refurbishment of Ar-Razi’s existing methanol plants or set up new ones..
By concluding the agreement, SABIC will become an equal co-owner with JSMC in a new methanol production technology, which will be freely commercialised inside or outside of Saudi Arabia.
“Ar-Razi is the rst joint venture in SABIC’s history and one of the most successful partnerships that the company has had over 40 years,” said Yousef Al-Benyan, SABIC vice chairman and CEO.
“Renewing the partnership for more 20 years is proof of its success and contribution to the Saudi-Japan strategic cooperation, in line with Vision 2030,” he added.
Ar-Razi was established on November
24, 1979, as a 50/50 joint venture between SABIC and JSMC with the aim of developing, establishing, owning and operating a methanol complex.
SabIC
refInInG
Contract for refinery site signed
e land rights contract for the construction site of the high-conversion crude oil re nery in Cabinda province was signed Tuesday
in this city by the provincial governor
of Cabinda, Eugénio Laborinho and the chairperson of the Sonaref executive board, Joaquim Kiteculo.
e re nery to be built on the Malembo plain in an area of about 313 hectares will have a processing capacity of 60,000 barrels of oil per day for the production of gas oil, gasoline, full oil and Jet A1 and will provide one thousand direct jobs in a rst phase.
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Week 26 03•July•2019