Matrix Energy Limited, a wholly indigenous and rapidly growing integrated Oil Marketing and Trading Company in Nigeria has explained why it is investing in Bitumen in the country.
The Chief Operating Officer (COO) of Matrix Energy Group, Mr. Loqman Salam-Alada recently in Warri, explained to journalists that the company through its subsidiary, Aida Energy, has commenced bitumen distribution with delivery of its first bitumen vessel, MT Jin Zhou Wan, on Wednesday, April 17, 2019.
He said this was part of effort to support the federal government’s determination in aggressively improving infrastructure across the nation, especially in the Niger Delta region.
“The best we can do is to support government’s aspiration of ensuring that all the materials required to make good roads and rail tracks are available in the country. That is what we are doing now, especially as we see sincerity in the mind of the government,” he said.
Salam-Alada, also noted that the group has identified inadequate infrastructure in the reception facilities for bitumen, distributing trucks as well as a supply gap in the country, hence it decided to invest in bitumen to address these challenges.
He further said that for the company to meet the demand of supplying bitumen across the nation’s geopolitical zones, it had acquired a total of 32 distribution trucks, expecting to take delivery of twenty (20) more before the end of June.
Salam-Alada said the Aida Energy facility has the capacity to store up to 5,700 metric tons of bitumen, 7 million litres of Aviation Fuel and 13 million litres of AGO, adding that the company intends to maintain a seamless supply culture as it would be receiving fresh cargo of the product every two weeks to ensure constant availability.
“The vessel arrived with 5,400 metric tons of bitumen. We completed our bitumen facility last month and it is the first cargo that just arrived today and we will commence discharge any moment from now. Our facility is about 5,700 metric tons capacity, the same facility will also have tanks to store aviation fuel, which will commence very soon. Cargo for this will also be arriving very soon.
Explaining further why it came to this conclusion, Salam-Alada said, “We have good relationship with most of the major construction companies, we sell diesel to them and see the stress and pain they go through in getting bitumen supply.
“We also see the way some marketers are taking advantage of the market. Our coming into the market will bring stability and healthy competition.
Salam-Alada said the group’s investments and improvement strategies have resulted in the expansion of its storage capacity to about 150 million litres of Hydrocarbons, enabling them to receive, store and distribute a wide range of petroleum products including LPG (Cooking Gas), Gasoline/PMS, Gasoil/Diesel, Aviation Fuel, Household Kerosene, Bitumen and Fuel oil.
He said, “Today, Matrix Group is the only company in Nigeria, including private companies, that can handle all products.
“Matrix Group is truly an integrated company, with the capacity to transport its products from terminal and storage facilities globally to our storage facilities in Nigeria, load with our own trucks and
deliver to our retail outlets and ultimately to the end users, no matter how remote.
“The dominant and unique position was not built overnight. We have keep investing. The fortunate part of this is that all these infrastructure and investments have created a lot of jobs and benefits for our host communities.”
Francis Sadhere, Warri
