Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • "We are Alert, Watching, Taking Notes and Keeping Records"-AIG Maritime

      May 6, 2025
      0
    • Nigeria Customs Launches Form M On Indigenous Platform

      May 6, 2025
      0
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

      May 1, 2025
      0
    • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

      May 1, 2025
      0
    • NIGERIA ENDORSES AMENDMENTS TO EIGHT ILO CODES

      Apr 29, 2025
      0
    • NLNG Launches VIBES For Entrepreneurial Community Development

      Apr 29, 2025
      0
    • Maritime Police Assures Safety As Dockworkers Protest

      Apr 28, 2025
      0
    • OTC 2025: Tanatita Upscale Security Efforts, Seek Collaboration and Partnerships

      Apr 28, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • “We are Alert, Watching, Taking Notes and Keeping Records”-AIG Maritime

  • Nigeria Customs Launches Form M On Indigenous Platform

  • Maritime Police Boss Celebrate Workers

  • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

  • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

News
Home›News›NNPCL, Daewoo sign $740m Contract for Kaduna Refinery

NNPCL, Daewoo sign $740m Contract for Kaduna Refinery

By Editor
Feb 3, 2023
1134
0
Share:
NNPC

NNPC

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.

While expressing hope for the project to be delivered on schedule, Kyari assured the company of safety and security, adding that there would be no risk to its personnel in the course of carrying out their duties.

Earlier, Mr Yemi Adetunji, Executive Vice President, Downstream, NNPCL said the development marked a milestone in the history of KRPC considering that the last Turn Around Maintenance (TAM) on the refinery occurred about 15 years ago.

Adetunji said the project was framed after extensive engagement with Daewoo on the Quick-Fix strategy to repair and re-stream KRPC and operate it on a sustainable basis at a minimum capacity utilisation of 60 per cent.

“This project shall be executed in three work packages as a maintenance services contract by Daewoo E&C Nigeria Limited at an estimated maximum cost ceiling of $740.6m with a duration of 21 months. The Quick-Fix strategy guarantees the fastest route to restreaming WRPC and KRPC for in-country production of refined petroleum products. Restoring WRPC and KRPC back to operation will guarantee energy security for the country.

`It will reduce dependence on imported petroleum products in view of near total dependence on supply of imported petroleum products and the impact the ongoing Russia-Ukraine war is having on global supply,” he said.

He also said that it would generate revenue, reduce demand for FOREX, supply raw materials to industries, create employment for Nigerians and ensure technology transfer, amongst other benefits.

He said the NNPC Limited was using a combination of internally generated revenue and third party financing to execute the repairs of the Refineries.

“Post rehabilitation of the three Refineries, globally reputable Operations and Maintenance (O&M) contractors shall be engaged to run the refinery Safely, Reliably, Sustainably and Profitably. I wish to implore total commitment from all staff in ensuring that this project is successfully executed as over 200 million Nigerians are looking up to NNPC Limited to deliver on this mandate.

“The Board and Management of NNPC limited are fully committed to providing all the required support to ensure that the refineries are repaired and back in operation on cost and schedule,” he said.

Meanwhile, he said the rehabilitation of PHRC had progressed considerably, adding that the old refinery had currently attained 64 per cent completion and the plant was expected back in operation in Q2 2023 while the entire PHRC Rehabilitation Project stood at about 59 per cent.

On the other hand, he said WRPC Quick-fix Project had achieved 28 per cent completion and was expected to be restreamed by the end of 2023.

Adetunji, while expressing gratitude said it would be looking forward to celebrating project milestones on KRPC Quick-fix and commissioning of the plant in 2024.

Speaking, the Korean Ambassador to Nigeria, Kim Young Chae said it was a new beginning from its Embassy’s point of view though its main focus was in the coastal area like Port Harcourt, Bayelsa and Delta States.

Young Chae, while calling for a continuous cooperation and support on execution of the project, said there would be a great potential in the economic cooperation because the development would benefit many people in the Northern part of Nigeria.

`I understand the dedication by the NNPCL to start the project as soon as possible to reduce foreign exchange on imports by producing refined oil for domestic consumption,” he said.

Also speaking, the CEO of Daewoo E&C Nigeria, Mr Choi Jungwon, while thanking the NNPCL for the opportunity given to the company to serve pledge to deliver the project as expected and scheduled in terms of quality.

The Chairman of the company, Mr Joseph Penawou, also thanked the NNPCL for trust and confidence reposed on the company and promised to deliver the project timely.

NAN

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

LCCI and NLNG Hold Interactive Forum ...

Next Article

“FUNTUA INLAND DRY PORT IS PORT OF ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • FeaturedInterviewsNews

    Dakuku Lauds ILO on Seafarers Welfare

    Jun 7, 2018
    By Editor
  • FeaturedNews

    NIMASA Commits To Maritime Safety, Ease of Doing Business

    Mar 27, 2023
    By Editor
  • FeaturedNews

    Hadiza Calls For Greater Port Efficiency

    Aug 19, 2019
    By Editor
  • News

    Paris Olympics: Gombe Calls For Minister’s Sack

    Aug 4, 2024
    By Editor
  • News

    FAO Offers Food Aid In Mozambique

    Apr 15, 2019
    By Editor
  • News

    The Dangote, Anaroke Debacle What’s at Stake?

    Aug 10, 2021
    By Editor

Leave a Reply Cancel reply

  • News

    HollyWood Star Gets Convid Virus

  • News

    SON SeeK Funds For Manpower and Operational Needs

  • News

    Ganduje: SERAP Gives PMB Ultimatum

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

“We are Alert, Watching, Taking Notes and Keeping Records”-AIG Maritime

Charge Maritime Stakeholders to be Law Abiding   The Assistant Inspector-General of Police in charge of Nigeria’s Maritime Police Command, Lagos, AIG Musa Yusuf Garba, psc(+), IIPS, PSPS, has reiterated ...
  • Nigeria Customs Launches Form M On Indigenous Platform

    By Editor
    May 6, 2025
  • Maritime Police Boss Celebrate Workers

    By Editor
    May 1, 2025
  • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

    By Editor
    May 1, 2025
  • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

    By Editor
    May 1, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved