Shell Petroleum Development Co. plans to spend $500 million over the next 5 years to expand its Bonny export terminal in Nigeria's Rivers state.
Shell said the expanded terminal could be the world's largest when it comes on stream.
The redesign and expansion of the terminal would double current capacity of 7.2 million bbl. The new terminal is being designed in Canada, and contracts are expected to be signed this year for construction work to begin by 2000. Most of the 23 tanks in the 30-year-old terminal were undergoing routine rehabilitation prior to the expansion proposal.
In addition to capacity expansion, Shell's plans for the terminal include upgrading eq...