Good to Go, Julius Rone’s UTM Set for Floating Liquefied Natural Gas Project

HighLife

The Group MD and CEO of UTM Group of Companies, Julius Rone is having the time of his life chasing his dreams. Compared to his peers, the man has managed to stay on the track that leads up, up, and away. According to recent tidings, Rone, together with African Export-Import Bank (Afreximbank), will soon usher in the latest phase of development on the Liquefied Natural Gas (LNG) front in Nigeria. Indeed, all is set for take-off to the great delight of informed Nigerians home and abroad.

They say that the best things come in pairs. For Rone, we have stopped counting how many paired fortunes have piled up in the Nigerian business corridor with his name attached to them. When, some months ago, it was announced that the celebrated jewel of the Niger Delta had won the License to Establish (LTE) Nigeria’s first floating LNG project, folks thought it was the usual white-elephant project. But things have been dusted, cleaned, and dried. All that’s remaining is the fund required to get things running.

On this front, Rone and his team of UTM progressives have already formed a strategic alliance with Afreximbank to raise $2 billion for the development of the project. Rone, representing his UTM Offshore has signed a Memorandum of Understanding (MoU) with Afreximbank (represented by Dr. Benedict Oramah, President and Chairman of Afreximbank), setting the ball rolling.

According to reports from credible sources, the funding event was held at Transcorp Hilton, Abuja, on December 7, 2021. This is in keeping with the promises that Rone made some time ago, where he stated that he—alongside his like-minded associates—have no time to waste and will soon have Nigerians talking about the production plant and the many advantages it will bring to us.

Indeed, Rone has stayed true to his words, and the LNG project, which is to be the pride and joy of Nigerians everywhere, is set to take off in the coming weeks.