Lists 2: 20/40 BUSINESS PROJECTS US EX-IM BANK IS READY TO FINANCE IN NIGERIA (II)

The United States of America Export-Import Bank (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank assists in financing the export of U.S. goods and services to international markets. This enables large and small U.S. companies to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.

The Ex-Im Bank provides Working Capital Guarantees (Pre-Export Financing), Export Credit Insurance, Loan Guarantees and Direct Loans (Buyer Financing) to beneficiaries in countries around the world. These beneficiaries are availed the opportunity to fund new business initiatives and to finance the expansion of ongoing business concerns through accredited agents of the Ex-Im Bank.

One of the accredited agents of the US Ex-Im Bank with special focus on Nigeria’s business environ-ment is Financial-Bridge, a Florida, USA Corporation providing Export Finance and Business Credit Consulting Services to U.S. and international private companies and govern-ment agencies. Financial Bridge is represented in Nigeria by Energy Industry Development Initiative. In this review, continued from last week, we highlight business projects the US Ex-IM Bank is ready to finance in Nigeria.

Hospitality and tourism

Pre-Engineered 3-5 Star Hotels: Pre-engineered 3 to 4 Star Hotel with 80-100 rooms can be established at an estimated cost of $12-$14.8 million, while a 5 Star – 125 Room Hotel is estimated to cost over $25 million, complete with civil engineering & foundation construction, installation, furnishing, room TVs, VSAT based wireless telephone and Internet network systems, stand-by power generators, standard swimming pool, tennis court and dry-run of all equipment and fittings. The hotel project can be run by a technical expatriate management company or a renowned hotel chain for five-ten years, pending when local staff are trained to take over management.

Amusement Park Project: The Amusement Park Project will provide leisure to the public, complete with popular rides, indoor/outdoor soft playground equipment as well as the installation of a wide range of entertainment attractions.

The rides will include Shuttle Loop Roller Coaster, Mobile Play and Giant Games, Triple Giant Wheel, Coaster Wheel, Soft Style Children Playground, Water and Magic Arms Rides as well as Theme Park Amusement facilities such as Concession Stands and Theme Stores. An artificial Lake can also be developed adjacent to the project site or the project can be sited near a natural lake.

The design concept will provide innovative products and theme park attractions, which will include popular cartoon character themes and/or any other local themes recommended.

The indoor rides and games will make for a safe place for children to visit while conquering the boredom factor and providing entertainment for them and their adult parents. Safety, cleanliness, good customer service, low prices and exciting staff will be the selling points of the proposed Amusement Park. The Park will be capable of organizing groups and school tours events, birthday parties and family outings.

Batting Cages: Base Ball enthusiasts will be able to practice hitting a home run safely within the Batting Cages. Balls will be pitched from automatic Pitching Machines and can be enjoyed by Beginners and Experts alike.

In door Game room: Complete with State-of-the-art Arcade Games, Pool and Air Hockey Tables and Snack Bar. The Game room will organize games for Children to play and be able to win all kinds of prizes.

Stock & Go Karts: Miniature Stock Car racers are popular with children and adults alike and will be part of the Amusement Park.

Miniature Golf: An 18-hole Golf Course with challenging obstacles of various themes as integrated in the Park.

Inflatable Jumpers: – Jumps Specifications: Size: 13′ X 15′ Height: 15′, Area needed: 15′ X 18′ minimum, each capable of accommodating 8-10 children.

Estimated Cost – CIF, Installation and Start-up: From $5.7 million.

Oil, gas and power projects – Modular Oil Refineries, Gas Gathering & Processing Plants, Downstream Petrochemical and Power Projects

Mini Refinery & Portable Crude Oil Distillation Plant: The Mini Refinery & Portable Crude Oil Distillation Plant is capable of processing from 2,000 Barrels Per Day (BPD) of any stream of Light or Heavy Crude Oil within API Gravity of 29°- 42.8°, into Naphtha, Diesel, Kerosene and Fuel Oil.

Mini Refineries are ideally suited for remote locations and are viable for Investments by Private and Public Sector Groups as a source of rapid production of primary fuel products and raw materials for Petrochemical Downstream Industries. Estimated Cost – CIF, Installation, Training, & Start-up: $12.75 million.

Integrated Natural Gas Field Gathering, LPG Processing and Co-Generation Power Project: The project will involve development of integrated Natural Gas Field Gathering, Liquefied Petroleum Gas (LPG) Processing and Co-Generation Power Plant, to recover Flared Natural Gas as raw material from Oilfield Natural Gas Streams and fractionate the Gas into Liquefied Petroleum Gas (LPG), for Commercial Bottling and Condensates – C5 + Liquid Light Naphtha, for sale as Gasoline Blend Stock, Base Feedstock for the Plastic Industry and Solvents for Paint and Chemical Industries.

The Co-Generation Electricity Power Plant will utilize the by-product of Lean Dry Gas as fuel to power the Plant. The Integrated Plant will be designed to produce three commercial products, including 55 MW/Day of Electric Power, 4,500 BPD of Liquefied Petroleum Gas (LPG) and 1,275 BPD of Condensates – C5 + Liquid Light Naphtha. Estimated Cost: CIF, Installation, Training & Start-up – $125 million.

Modular 6,000 or 12,000 BPD Crude Oil Refinery Plant: Modular Crude Oil Refinery with capacity of 6,000 BPD, complete with 3,000 BPD Catalytic Reformer/ Hydrotreater can be designed to produce Unleaded Gasoline, Diesel, Kerosene/ Aviation Fuel and Fuel Oil. The Plant can also be expanded to 12,000BPD, complete with Stabilizer Tower.

The Modular Refinery can be configured to process Crude Oils with API Gravity of 20°- 42.8°, with typical products yield as follows:

Equipment List of a 6,000 and 12,000BPD Modular Refinery Plants & Machinery include:

a. Plants & Machinery:  6,000BPD Crude Topping Unit (Distillation System)  Boiler System and Cooling Tower System and Stabilizer Tower  Blower System and Desalter System, 1 MW Power Generator System  Flare System and Air Compressor System, 3,000 BPD Catalytic Reformer/ Hydrotreater  Pre-Engineered Steel Buildings Admini-strative, Project & Auxiliary  Internal Piping Systems and 120,000bbl Tank farm with Piping and Loading Systems  Pipeline & Accessories, capable of constructing up to 10 km 6 inch dual Pipelines connecting the Refinery Tank Farm with Crude Oil Source (1 Pipeline to carry Crude Oil Feedstock and the other Refined Petroleum Products) Water Treatment Systems & Lightning Protection Equipment  Ocean Freight and Transit Insurance, P&M Installation Costs and Spare Parts, etc.

b. Local In-country Project Site Construction Components:  Site Survey & Clearing, Environmental Impact Assessment (EIA), Soil Boring, Topographical Survey, Borehole Construction, Water Analysis, Topsoil Stripping and Stockpiling (available size of land 15-20 Hectares)  Fencing, Erection of Site Office and General Site Engineering Design Construction  Right of Way (ROW) Survey of Pipeline Route to connect the Refinery’s Tank Farm to Crude Oil Terminal Source of up to10 km away  Construction of Pre-Engineered Project Buildings Foundations and Foundations for Equipment, Plants and Machinery  Layout and Construction of Tank Farm Foundations  Installation of Pre-Engineered Project Buildings Local Engineering Costs.

Total Project Cost 6,000BPD, 120,000 bbl Tank Farm and 3,000BPD Catalytic Reformer/ Hydrotreater, including cost of Installation, Training, and Start-up $59.73 million.

To raise the capacity to 12,000BPD with the additions of 6,000BPD Distillation Unit, 120,000 Barrels Tank Farm and 3MW Power Generators, the combined cost is estimated at $112.94 million.

Modular Gas Gathering and Processing Plant – 5 MMSCFD of Mixed Natural Gas and LPG: The 5 million standard cubic feet per day (mmscf/d) Natural Gas Gathering and LPG Processing Plant has capacity to produce Lean Gas suitable for use in power generation and LPG for commercial bottling. ThePlant will be skid mounted and come complete with Liquid Recovery, Field Compression Systems, Control Panel, LPG Storage, Power Generation and Pre-Engineered Control Building, etc.

The plant will be capable of gathering Raw Natural Gas being flared from wellheads / flare-heads and piped into a holding tank. The Gas will then be processed to remove impurities and separated into components such as Propane and Butane. Estimated Cost: $25 million, covering CIF, Installation, Training, & Start-up.

Blended Bunker Fuel and Low Pour Fuel Oil (LPFO) Plant: This plant can produce Blended Bunker Fuel consisting of Gas Oil (AGO) and Low Pour Fuel Oil (LPFO) with a capacity of 500 Barrels Per Day (BPD) or 80,000 liters per day, used for firing boilers, furnaces, air heaters, fuel for ships and power generating sets. Bunker Fuel for Ships and Vessels can be produced from residue of petroleum refining operations. Estimated Cost: CIF, Installation, Training and Start-up: From $4.5 million.

Specialty Solvents Plant: A typical Solvents Plant utilizes Naphtha produced from the Crude Oil Refining Process as raw material for the production of commercial solvents used by the Ink, Aluminum and Paint Industries. The plant will be capable of producing Ink Oils used in the manufacture of lithographic printing inks for printing high-grade magazines, fine-quality commercial work and newspapers.

The plant can also produce Odorless Paint Thinners and Mineral Spirits for Oil Based Paints, packed in 5 gallons, 1 gallon and quart containers. Estimated Cost From $4.5 million for a portable solvent plant capable of producing 70,000 liters per day of mixed products, including CIF, Installation, Training and Start-up.

Industrial Lubricants, Greases and Gear Oil Plant: The modular plant is capable of producing a mixed quantity of Industrial Lubricants, Greases and Gear Oil with a capacity of 15,000 gallons per day. The Plant will manufacture various grades of Lubricant Oils produced by blending quantities of Naphthenic base oils with various additives and packed in 55-gallon drums, 5-gallon pails and smaller containers.

The plant could also produce various blends of higher concentration of Lubricants, Greases and Gear Oil products. The products will be designed to have long lasting friction free coating to penetrate, protect and lubricate moving and stationary metal surfaces. Estimated Cost – CIF, Installation, Training and Start-up: From $3.75 million.

Liquid Asphalt Production and Batch Plant: The Liquid Asphalt Plant can be designed to produce 1,000BPD 3,000BPD of Liquid Asphalt from Crude Oil or Fuel Oil/Residium as Raw Material. The Plant can be integrated with an Asphalt Batch Line for the production of Bituminous Pavement Materials used for Road Construction and Surfacing.

The Batch Line will be capable of producing Hot Mix Asphalt for Road Patching & Paving by mixing aggregates with Liquid Asphalt and Cement to produce from 3 tons/hr. Bituminous Pavement Material. Estimated Cost – Integrated 1,000BPD Liquid Asphalt and 3 tons/hr. Batch Plant – CIF, Installation, Training & Start-up – From $7.98 million.

Liquefied Petroleum Gas (LPG) Filling Plant: The LPG Filling Plant will commercially bottle Liquefied Petroleum Gas sourced from Processing Unit of a Gas Gathering Plant or a local Crude Oil Refinery, which will be bottled for domestic consumers. The LPG Filling Plant will have capacity to bottle a mix of 600-1,500 12.5kg, 15kg & 45kg cylinders per hour.

The Plant will come complete with 12-18 Heads Gas Filling Carousel, Piping System, Sprinkler System, Standby Power Generator, Chain Conveyor, Loading and Unloading Compressor Systems, 3 x LPG Tank Lorry Trucks and Gas Storage Tank, Pre-Engineered Factory Building, etc. Estimated Cost: CIF, Installation, Training & Start-up – $3.5 million.

Natural Gas & Diesel Power Generation Projects: Natural Gas & Diesel Electricity Power Plants are available for installation as independent and reliable continuous-run power generating units. The capacity of each unit range between 1MW and 3.25MW designed to utilize Natural Gas connected to a pipeline from a Gas Recovery and Processing Unit or Depot as well as Diesel, as fuel to power the plants. Estimated cost: From $980,000.

The Plants can be combined in multiple units to form a large power project with generating capacity of between 15MW and +100MW per location, complete with central control system allowing multiple units to function in parallel as load is added or dropped. A compact Trailer Unit of 25 MW Gas Turbine can also be supplied within 12 months of placing order. Estimated cost: From $16 million.

Aviation – New & Used Passenger & Cargo Aircrafts, Helicopters, Airport and Heliport Development & Expansion, Aviaonics & Spare Parts

Cargo Airport & Aircraft Maintenance Facility: A Cargo Airport and Aircrafts Maintenance Facility Project can serve as a hub for fast growing and evolving global Air Cargo as well as cost-effective regular Maintenance and C & D Checks of Aircraft Fleets in a developing region.

The development of a new international standard Cargo Airport & Aircraft Maintenance Facility or expansion of an existing Airport to serve the same purpose is estimated to cost between $180 million and +$250 million, covering the construction of facilities and structures to include:

 3,600 meter Runway and adjoining Taxiways & Air Traffic Control Tower

 Apron Area for Overnight Parking of Aircrafts

Pre-Engineered Terminal Building with four (4) Gate Loading Bridges

 Aircraft Maintenance Facility & Aircraft Tooling and Equipment

Eight Low Bay Cargo Buildings, High Bay Cargo Building and High Bay Cargo Facilities

 Airport Internal and External Roads, Gates and Parking Area

 Fire Station, Fuel Depot, Electric Power Plants and Water Treatment & Supply System

 Facilities for Shops and Concessionaire Operations, Air Cargo Handling Systems,

Storage and Warehousing

 Aircraft Maintenance Training School

 A Pre-Engineered 4-Star 100 Room Hotel, complete with Furnishing & Fittings

The project will include the purchase of two Boeing 727 Cargo Aircrafts to provide Air Cargo services to local and International freight routes, as integrated part of the overall project implementation.

Services to be provided include:

 Air Cargo Processing & Handling Services

Scheduled Aircraft Maintenance Checks

 C and D Maintenance Checks

 Airline Passenger Service

Commuter Transportation

 Helicopter Passenger & Emergency Services

 Concessionaire Operations

 Hotel Services

 Etc

Used / Pre-Owned Commercial Aircrafts:

 Boeing 737-204 Advanced Aircraft available for Inspection and Supply.

Navigational, Communication, Electronic Systems, Furnishing & Equipment List. Estimated Cost: From $3million to $8million depending on Aircraft Age and Flight Hours.

 1982 Boeing 737-200:

Typical Specifications:

Airframe

Total Hours: 69553

Total Cycles: 76015

Weights:

Maximum taxi: 116000

Maximum takeoff: 115500

Maximum landing: 103000

Maximum zero fuel: 95000

Operator’s empty weight: 65037

Fuel capacity: 34552

Interior:

Seating capacity: 122 Y CLASS

Galleys: 2 FWD & 2 AFT

Lavatories: 2 FWD & 2 AFT

Estimated Cost: From $3million to $5million depending on Aircraft Age and Flight Hours.

 1985 Boeing 737-300 PAX:

Typical Specifications:

Avionics:

Auto flight Autopilot/FLT

Director , Air Data Computer, Flight Control Computer, Flight Mode Control Panel Auto Throttle Computer , Commun-ications VHF/Comm Panel

Audio SEL Panels , VHF Comm Transceiver Collins

PSGR Address , ACARS

Cockpit Voice Recorder , Instruments Flight Data Recorder Central Aural Warning Unit , TCAS, DME Transceiver and ADF Receiver, Standby Horizon and Marker Receiver

Equipment: 12 First Class / 112 Coach max seating per TCDS = 1491 fw lav / 2 aft , 4 Atlas Galleys, Life Vests, Escape path lighting

Extra Features: APU GTCP85 129CKB/ Honeywell TT 28,172 Time since last shop visit 2,264

Times: Total Time = 52,420 Cycles = 27,318 fresh “C” upon return, ” D” due March 07

Estimated Cost: From $12 million

 Helicopters and Heliports: Available new and used 2-7 Seater Basic & Executive series Helicopters are ideally suited for Private, Business and Utility Missions including Air Taxi, Sightseeing, Aerial Photography, News Reporting, Medical Emergencies, Police, Border & Coastal Patrol, Agricultural Spraying, Urban and Maritime Surveillance, etc.

Estimated Cost – CIF, including Painting to buyer’s colors, Test Flight and basic Training Run, from $455,000 through +$2 million.

Heliports can also be turnkey designed and constructed for hospitals, businesses and government offices. For rooftops, modular, steel and aluminum platforms can be constructed complete with lighting and fire protection system. Estimated Cost from $500,000.

Next week, we continue with business projects being financed at the moment in Nigeria by the US Ex-Im Bank through FinancialBridge and the process for securing this offshore funding for projects in the country.

FINANCIALBRIDGE: HOW TO DO BUSINESS WITH THE AMERICAN INVESTMENT COMPANY THAT FACILITATES OFFSHORE FUNDING FOR NIGERIAN BUSINESSES

When Patrick Fournie, Senior Advisor with FinancialBridge, Inc. made his presentation on the “Private Ownership of Modular Refineries in Nigeria: The New Trend in Building Petroleum Refining Capacity: The Financialbridge Experience” at a seminar organized by the Energy Industry Development Initiative at the Federal Palace Hotel, Victoria Island, Lagos State, this past Tuesday, 11 November, 2008, seminar participants listened with rapt attention.

Fournie presentation, was for the Nigerian and other foreign participants at the seminar, a revelation of a new vista in financing strategies on the pivot of offshore financing, he informed the seminar of how FinancialBridge is facilitating funding for a Pharmaceutical Project in Abuja, at a cost of $12.2 million and an aluminum roofing sheet & allied project at Onna in Akwa Ibom State at a cost of $6.6million. FinancialBridge, he said, is also involved in funding for an amusement park project at Isheri, Ogun State, at a projected cost of $22.3 Million, a pit quarry mining project at Oyebiyi, Oyo State at a projected cost of $7.5 million and a 5-Star luxury hotel in Abuja at a projected cost of $55.8 million.

Other projects FinancialBridge had been engaged to facilitate funding for by Nigerian entrepreneurs are the phase one of the 12,000Barrels per day modular refinery project at Eket in Akwa Ibom State at a cost of $43.7 million and the 12,000Barrels Per Day modular refinery project at Kolo Creek in Yenagoa, Bayelsa State at a projected cost of $121.3 million. A $197.5 million 18,000Barrels Per Day modular refinery project in Edo State is also one of the projects FinancialBridge is facilitating offshore funding for.

Fournie who flew into Nigeria to make further revealed how his company had structured funding and project implementation procedures for the soon to be streamed 12,000 Barrels Per Day Amakpe Refinery Project at Ikot Usekong – Eket in Akwa Ibom State and the Rehoboth Refinery, also a 12,000 Barrels Per Day Refinery Project in Yenagoa, Bayelsa State.

Fournie, who, on behalf of Financialbridge, signed a Memorandum of Understanding (MoU) appointing Energy Industry Development Initiative as its representative in Nigeria, explained that FinancialBridge is an export finance and business credit consulting firm:

“We work with U.S. and international financial institutions to provide innovative funding solutions to private companies and government agencies, including: export trade finance, project finance, public sector financing and export working capital. We are also involved in equity financing and facilitation of bridging loans” Fournie said.

“We cooperate with Project Implementation and Management Companies in ensuring effective utilization of procured funds for successful planning and execution of related projects and trade transactions.”

Highlighting its primary sources of export funding in the United States financial market, Fournie said his company’s sources include: Export-Import Bank of the United States (U.S. Ex-Im), Overseas Private Investment Corporation (OPIC) and the Export Finance Banks and Credit Insurance Companies, among others:

“Ex-Im Bank is the official Export-Credit Agency of the United States that helps create and maintain U.S. jobs by financing the sale of U.S. Exports, primarily to emerging markets throughout the world. Ex-Im Bank provides Loan Guarantees, Export-Credit Insurance and Direct Loans, in fiscal year 2007, Ex-Im Bank authorized $12.6 billion in financing to support an estimated $16 billion of U.S. exports worldwide.” Fournie said.

Perhaps, of importance to Nigerian entrepreneurs, is the revelation by Fournie that the Ex- Im Bank has approved a $1.0 billion facility to guarantee Nigerian Projects (of which $800 million is still available) despite the global financial melt down.

Explaining the process for securing offshore funding for projects in Nigeria, Fournie said:

“Under the Ex-Im Bank Guarantee Program, the Promoter is required to provide Statutory Equity Contribution of 15% of U.S. Cost Content, while the U.S. Lender funds 85% of the U.S. Cost Content utilizing the Comprehensive Credit Guarantee of Ex-Im Bank. The Project Promoter is further required to provide Local Bank Guarantee to support the 85% portion of the U.S. Loan as well as finance local In-Country Costs requirements within the overall Project Cost.The U.S. Ex-Im Guaranteed Loans have Medium Term Tenure of 5 to 7 years at Interest Rates of +/- 2% above Six Months Floating LIBOR (London Interbank Offered Rate).

Some of the projects funding prospects of FinancialBridge include Oil and Gas (Modular Oil Refineries, Gas Gathering & Processing Plants, Downstream Petrochemical Projects, Pipelines, etc.), Energy (Gas Turbines and Diesel Powered Plants), Communications (Wireless VSAT Network VoIP Telephone, Fax, High Speed Broadband Internet Systems, Cable TV, etc.) and Solid Mineral (Quarrying & Processing).

Other funding prospects are: Manufacturing and Assembly (Small and Medium Scale Plants), Construction (Pre-engineered Buildings & Facilities, Stadiums & Arenas, Industrial Parks, etc.) Agro-Business (Farming & Food Processing), Medical (Pharmaceutical Projects, Supplies & Clinics), Tourism (Amusement Parks, Hotels/Resorts, etc) and Aviation (Used & New Passenger & Cargo Aircrafts, Helicopters, Airport Development & Expansion, Avionics & Spare Parts, etc.)

Highlighting the milestones already attained with the 12,000 Barrels Per Day (BPD) Amakpe Refinery as a case study, Fournie said:

“The Amakpe Refinery is being implemented in two phases, with Phase 1 – 6000BPD Refinery Plant originally estimated to cost about $36.5 million and now revised to cost $43.7 million, including Escalation, and revised Field Erection Costs. Construction of 12KM Dual Steel Pipeline connecting Exxon/Mobile QIT and Amakpe Tank Farm is estimated at $10 million of Additional Cost. The Project is expected to start production by October 2009. Out of the current revised Project cost of $43.7 million, $26.2 million has been expended while $17.5 million is outstanding to complete full funding of the Project.

“UPS Capital/Ex-Im Bank Loan of $10.3 milion is being disbursed to Ventech, based on P&M Construction Progress Payment while Amakpe Refinery has fully paid required statutory Equity Contribution and continues to pay the Counterpart Funds. Akwa Ibom State Government Investment of $8.5 million has also been applied to the Project

“As at June 27, 2008, Ventech achieved 50% Mechanical Completion of the Refinery Plants and Machinery Fabrication, which was certified by visiting representatives of the Department of Petroleum Resources, including Mr. M.D.B. Ladan-Head Downstream, Mr. O.A. Adeleke- Assistant Director, Dr. D.M.E. Eradiri- Chief Environmental Officer, Mr. Oyedele Sangobowale and Mr. Hussaini Basaka-Site Representatives. Based on this development, Amakpe Refinery has qualified to receive $1.2million Security Deposit earlier paid to DPR as a requirement for revalidation of related Refinery Construction License.

“Sterling Bank has approved additional $9.3 million Loan Facility for the Project. Amakpe Refinery is planning to issue 15,000,000 Shares of Common Stock of the Company for sale to Private Investors. The Private Placement is being packaged by Financialbridge and Sterling Bank for issuance by Sterling Capital Markets (Issuing House).

To start -up the process of obtaining required funding, a Company is required to retain the services of Financialbridge which will develop a Bankable Business Plan that will satisfy U.S. Export Financial Market requirements and procure the Project Loan.

The retainership will further cover service coordination of Project Loan Packaging and Procurement that will involve the Borrower and the U.S. Lender. The U.S. Lender will underwrite the submitted statutory documentation leading to Loan approval, following which the Lender will request the U.S. Ex-Im Bank for issuance of Political Risk and Medium-Term Insurance/ Comprehensive Credit Guarantee before disbursement of related Loan. The process of underwriting the Loan through approval and disbursement could be concluded within 45-90 days after the U.S. Lender receives the complete statutory documentation as outlined.

Financialbridge be responsible in carrying out tasks that will result in the successful procurement of U.S. Loan for the implementation of the project which include: Conduct of Feasibility Study and preparation of Bankable Business Plan that will satisfy U.S. Export Financial Market requirements. The Business Plan will be concluded within 30-45 days from receipt of Engagement Fee, Data from Market Research as well as Borrowers information. The draft of the Business Plan will be forwarded to the Company for approval and possible input before production of final Document.

FinancialBridge also processes Due Diligence, Approval and Disbursement of Project Loan within 45-90 days of the U.S. Financial Institutions receiving and underwriting complete statutory documentation from the Nigerian company.

If required, Financialbridge can also be engaged to Package and Instrument Private Placement of Shares of Common Stock of the company to raise additional funds through Private Equity Investment, utilizing a local Nigerian Bank as Issuing House.

The Funds raised through the Private Placement could be applied to fund Local Project Site Development and In-Country Costs as well as required Equity Contribution, etc.

The Nigerian company shall be responsible for the following within the requirements for successful Loan Procurement, including: Obtaining Nigerian Bank Guarantee for 85% or 75% of the total U.S. Loan amount to fund the Project, depending on the Ex-Im Bank or OPIC requirement.

Securing all required Permits and Licenses from Nigerian Regulatory Authorities, submission of three years audited financial statements of the Nigerian bank as certified by a renowned accounting firm. Provision of Equity Contribution of 15% of total U.S. costs content within the overall Project cost for U.S. Ex-Im Bank Guaranteed Loan to be added to 85% of total U.S. cost content as Loan, or 25% as statutory Equity contribution of total Project

Confirming Energy Industry Development Initiative’s (EIDI) relationship with FinancialBridge, the organisation’s Chief Executive Officer, Mr. Tom Obaseki said FinancialBridge has already shown interest in facilitating funding for some project ideas it had forwarded to FinancialBridge.

“As we speak, we have forwarded project proposals for the establishment of 5-7 MMSCFD Modular Gas Gathering, LPG and Lean Gas Production Plant in Nigeria, the establishment of Integrated 55MW Power Plant, Natural Gas Gathering and LPG Processing Project in Nigeria and for Development of Pre-engineered Medical Clinic & Diagnostic Centers, Pharmaceutical Project and Customized Medical Trailers & Boat Clinics, complete with Outreach Medical Technicians Training Support.” Obaseki explained.