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Thursday, October 27, 2022
A Memorandum of Understanding (MoU) between Nigerian National Petroleum Company (NNPC) and Daewoo Group of South Korea for the rehabilitation of the Kaduna refinery has been signed in Seoul, South Korea. President Muhammadu Buhari was on hand to witness the occasion.
According to a statement by Special Adviser to the President, Femi Adesina, President Buhari expressed delight as he witnessed the signing of the MoU and 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.
“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,” said the President, adding, “This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.”
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