Boyejo, in a statement made available to The Nation, said a Russian firm known as ‘’OOO’’ Bio- Resurs and some Nigerian oil companies are partnering together on the issue.
He said: “The scheme is designed to commence immediately with the building of a 30,000 ton bio-diesel installation plant. This will be preceded with the planting of the cash crops that would be used for the production. Research has shown that bio-fuel is environmentally-friendly and the viscosity makes engine run longer and faster.
‘’ Bio-fuel is the in-thing in Europe, America and Asia and the plant is Euro-certified. The invention has been well tested in some European, American and Asian countries. The bio-plant will produce: diesel, petrol, aviation fuel and kerosene. The total cost of the project is cheaper and the technology is safer, stronger and set to beat any other in the whole world.”
Boyejo who said the partners are yet to disclose the area where the project will be cited in Nigeria. He said the first part of signing of agreement between the partners have taken place, while the final signing will take place in Krasnodar, Russia.
“It is expected that this project will aid the process of diversifying the Nigerian economy and aid the Federal Government transformation agenda. It is expected that full work will commence at the site to be named in January 2014,” he added.