Business & Economy

NNPC, South Korea’s Daewoo Group Sign MoU To Rehabilitate Kaduna Refinery (PHOTOS)

Published

2 years ago

Oct 28, 2022.

NNPC and South Korea’s Daewoo Group have signed an MOU to rehabilitate the Kaduna refinery.

Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) Ltd and Daewoo Group of South Korea have signed the Memorandum of Understanding (MoU) for the rehabilitation of the Kaduna refinery.

EDITOR’S PICKS

According to a statement by President Muhammadu Buhari’s spokesman, Femi Adesina, the president witnessed the signing on Thursday in Seoul, South Korea.

NNPC GMD, Mele Kyari, and his Daewoo Group counterpart

Recall that Buhari travelled to South Korea on Sunday to participate in the First World Bio Summit, 2022.

“The President was particularly excited as the signing came against the back of ongoing rehabilitation works at Warri refinery by same Daewoo Group which will at the first instance, deliver fuels production before the first half of 2023,” Adesina said.

According to the Nigerian leader, “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.”

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

The president stressed that, “This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.”

President Muhammadu Buhari at the MOU signing ceremony

“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.