The refinery will process about 20,000 barrels per day of crude oil initially.
Orient Petroleum chairman Emeka Anyaoku was quoted by Reuters as saying that the new refinery may start operations later next year.
"We expect that by the end of next year we should be refining 20,000 barrels of oil everyday and gradually after that we will build up to 35,000 then 55,000 and possibly higher," said Anyaoku.
The company is currently looking for oil in the Anambra state which located north of Niger Delta, an oil producing region.
Crude oil produced from Anambra state and Brass River oil will be processed by the company.
