Kaduna Refinery: NNPCL, Daewoo Constr. Coy Sign $740m Contract For Quick Repair
The Nigerian National Petroleum Company Limited (NNPCL) and Daewoo Engineering Construction Nigeria Limited have signed a maintenance service contract for the quick-fix repairs of the Kaduna Refining and Petrochemical Company Limited (KRPC).
Group Chief Executive Officer, NNPCL, Malam Mele Kyari and CEO of Daewoo E&C Nigeria, Mr Jung Taewon, signed the contract on behalf of their respective organisations.
The News Agency of Nigeria (NAN) reports that the proposed quick-fix initiative on KRPC is expected gulp 740.6 million dollars and will restore the refinery to a minimum of 60 per cent of its nameplate capacity by fourth quarter of 2024.
Kyari said restoring local refining capacity would guarantee energy sufficiency, being one of the key things Nigeria required for economic growth.
“There is no way a developing country will talk about energy transition without talking about petroleum products. We understand engagements and conversation around energy transition but we need the liquids of today.
“The only way we can guarantee that is to have local refining capacity restored. We are conscious of the fact that our four refineries in three locations are down now, undergoing rehabilitation process.
“Port Harcourt is on course, Warri is also on schedule and we are committing this Kaduna refinery. Ultimately our 18 million litres per day gasoline production capacity will be restored.
“This will also complement the production start off of Dangote refinery which we have 30 per cent equity, we are hopeful that Nigeria will be self-sufficient in the supply of petroleum products, particularly gasoline in 2023,” Kyari said.
Photo Credit: Business Post Nigeria