The Nigerian National Petroleum Company NNPC has signed a contract with a South Korean company for the maintenance and re-streaming of the Kaduna refining petrochemical company.
The NNPC says the project is estimated to cost 740,669,600 U.S dollars
the Kaduna refinery has a one hundred and ten thousand barrels per day capacity and it is one of Nigeria’s four dysfunctional refineries that have not produced fuel for years.
the maintenance and re-streaming contract will be carried out by the Daewoo engineering, the same company carrying out rehabilitation of Warri refinery.
The NNPC management and the Korean ambassador to Nigeria said that restoring the refineries will guarantee energy security for Nigeria.
NNPC limited says it is using a combination of internally generated revenue and third party financing to execute the repairs of the refineries.