Foreign investors expressing interest in Port Harcourt, Warri, Kaduna refineries – NNPC
THE NIGERIAN NATIONAL PETRO LEUM CORPORA TION (NNPC) says some of the financing companies it approached to revamp the country’s refineries have shown interest in three refineries, including Port Harcourt, Warri and Kaduna.
Ndu Ughamadu, NNPC group general manager, group public affairs division, disclosed this in an interview with the News Agency of Nigeria (NAN) Friday in Abuja.
He said that a team of engineers from the corporation had gone abroad to source for financiers to revamp the major refineries in the country.
“About three financing companies have indicated interest but their names are yet to be made public but they have shown interest for Port Harcourt, Warri and Kaduna refineries,” he said, adding that most of the financiers showed more interest for the Port Hacourt refinery.
“Efforts are on, our team of engineers are abroad, seeking financing. What we want to do with refineries is to bring in financiers’ that will put in their money for rehabilitation instead of the NNPC. By doing that, they will source their funds from what we produce,’’ he said.
He reassured that with the ongoing commitment, the projected timeline of Ibe Kachikwu, the minister of state for petroleum resources, for the refineries to be up and running by 2019 would be achieved, particularly with the coming on stream of the Dangote Refinery.
Kachikwu had said the NNPC was expected to sign agreements with third-party financiers and contractors for the revamping of its 445,000-barrel per day (bpd) combined capacity refineries in Kaduna, Warri and Port Harcourt by October.
He also stated that the processes to ensure that the NNPC moves the combined production capacities of the refineries to 90 percent were largely concluded.
Ughamadu said the signing of the agreements would soon follow.
L-R: Oluwole Rawa, general manager, consumer marketing, MTN Nigeria; Dakore Egbuson-Akande, Nollywood actress; Rahul De, chief marketing officer, MTN Nigeria: and Richard Iweanoge, general manager, brands and communication, MTN Nigeria, at the relaunch of MTN Xtravalue in Lagos recently.