-2.1 C
New York City
Thursday, December 8, 2022
Home BUSINESS ENERGY NNPC, DAEWOO Group sign MoU for Rehabilitation of Kaduna Refinery

NNPC, DAEWOO Group sign MoU for Rehabilitation of Kaduna Refinery

President Muhammadu Buhari has expressed delight as he witnessed signing of the Memorandum of Understanding (MoU) between Nigerian National Petroleum Company Ltd and Daewoo Group for the rehabilitation of the Kaduna refinery.

Mr Femi Adesina, the President’s Special Adviser on Media and Publicity, confirmed this development in a statement on Thursday in Abuja.

Adesina said the president was particularly excited as the signing came against the back of ongoing rehabilitation works at Warri refinery by same Daewoo Group of South.

According to the presidential aide, the Warri refinery rehabilitation works, when completed, will at the first instance, deliver fuels production before the first half of 2023.

Adesina quoted the Nigerian leader as saying: “Daewoo Group has massive investments in the automobile, maritime and other sectors of our economy.

“I am also aware that Daewoo is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC and her partners.”

The president said he looked forward to the delivery of ongoing projects, especially at the Warri and Kaduna refineries, and the NLNG Train Seven.

“This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.

“I thank you for your faith in Nigeria,” Buhari told the Korean conglomerate at the end of the significant ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit.

The News Agency of Nigeria (NAN) reports that President Buhari is expected back to Abuja from Seoul, South Korea, on Thursday night.

©Copyright MOTORING WORLD INTERNATIONAL. All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International

Contactinfo@motoringworldng.com

Most Popular

Volkswagen CEO to Present Software ‘Reality Check’ To Board

Volkswagen's (VOWG_p.DE) CEO will outline a new software and vehicle platform strategy to the carmaker's supervisory board on Dec. 15 as he tries to...

Toyota Set for 2023 Dakar Rally With Three-Car Team

TOYOTA GAZOO Racing is set to take on the 2023 Dakar Rally with a three-car team early in January. The defending champions, Nasser Al-Attiyah and...

New Fully Electric Volvo C40 Recharge Heads for South Africa

The new fully electric C40 Recharge is scheduled to join Southern Africa’s range of electrified vehicles in the first half of 2023. Offering many of...

Hyundai IONIQ 5 Wins Car of the Year Award

The 2022 Hyundai IONIQ 5 has earned Esquire’s Car of the Year this month, adding another coveted award to its growing trophy case. Every year, Esquire editors drive and...
%d bloggers like this: