AGMC Secures Multi-Billion Dollar Financing for $20 Billion Ogidigben Gas Revolution Project
Alpha GRIP Management Company (AGMC), a subsidiary of Alpha Group UAE, has signed a landmark partnership agreement with China National Chemical Engineering Corporation (CNCEC) for the development, financing, and construction of the $20 billion Ogidigben Gas Revolution Industrial Park (GRIP) in Delta State, Nigeria.
The signing ceremony, held at CNCEC headquarters on January 15, 2025, was attended by Hon. Joseph Tegbe, Director General of the Nigeria-China Strategic Partnership (NCSP), and Mr. Sheikh Mohamed Bayorh, President of AGMC.
This partnership aims to fast-track the development of Africa’s largest integrated gas city, which will include power plants, fertilizer, petrochemical facilities, aluminum smelters, LNG, and methanol plants.
CNCEC President Li Zhenyu highlighted Nigeria’s strategic importance to CNCEC’s overseas expansion, citing the success of the Dangote Petrochemical Refinery Complex as a testament to their capabilities.
Hon. Tegbe emphasized the Nigerian government’s commitment to fostering mutually beneficial relationships with Chinese enterprises under President Bola Ahmed Tinubu’s leadership.
Mr. Bayorh praised CNCEC’s expertise and thanked the Nigerian government for its enabling policies, which have attracted significant international investment.
He affirmed that the project, supported by key stakeholders like NNPCL and Delta State Government, will drive industrialization, create thousands of jobs, and solidify Nigeria’s position as a global energy hub.
