The Memorandum of Understanding (MoU) between the Nigerian National Petroleum Company (NNPC) Ltd and the Daewoo Group of South Korea for the rehabilitation of the Kaduna refinery was signed on Thursday in Seoul, South Korea, and President Muhammadu Buhari expressed his joy at the event.
The President was especially thrilled because the signing followed on the heels of ongoing rehabilitation work being done at the Warri refinery by the same Daewoo Group, which will initially deliver fuel production before the first half of 2023.
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,” stressing that “This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.”
“I thank you for your faith in Nigeria,” President Buhari told the Korean conglomerate at the end of the signing ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit.