Ardova Plc announced over the weekend that it would complete construction of its 20,000 metric tonnes Liquefied Petroleum Gas (LPG) storage facility by December of this year.
The company’s Ijora-Lagos office recently broke ground on the LPG storage facility. The facility is 8.8 hectares in size and has a combined storage capacity of 20,000 metric tonnes, making it the largest in West Africa.
Olumide Adeosun, Chief Executive Officer of Ardova Plc, stated that the LPG facility demonstrated Ardova’s commitment to increasing revenue from cleaner fuels.
According to him, the project represents an important step in the company’s evolution to an integrated energy company, as it moves closer to its vision of a future in which renewables and cleaner fuels account for a significant portion of its product offering and balance sheet.
“When completed, this facility will be West Africa’s largest LPG storage complex, putting Ardova at the forefront of the industry in terms of receiving, blending, storing, and distributing the product to both commercial and retail customers.”
Ardova is also particularly interested in the project’s improved socioeconomic prospects for Nigerians, particularly rural consumers whose reliance on biomass such as firewood exposes them to attendant health risks and rapidly reduces much needed ground cover provided by trees.
“When construction is completed in December 2022, we will have a facility that is both best in class and future ready.” The companies involved in the design, fabrication, and sourcing of every component used in this project have been evaluated against the highest standards of Engineering, Procurement, and Construction (EPC) management, as well as Health, Safety, and Environment (HSE) specifications. “I am confident that we will deliver a world-class facility that will continue to produce results for the company for decades,” Adeosun said.
Ardova, a leading integrated energy company involved in the marketing of petroleum products in Nigeria, operates a network of over 450 retail outlets across the country, including major petroleum storage facilities in Lagos and Rivers state. Fuels, lubricants, and greases; liquified petroleum gas; cylinder sales; and renewable energy solutions are among the company’s business segments.