Business New Investors Will Take Over Nigeria's Refineries by September- Kachikwu


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Nigeria's Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Thursday revealed that new investors are expected to revamp the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemicals Company (WRPC) and Kaduna Refining and Petrochemicals Company (KRPC) by September 2017.

Nigeria now has sizeable willing investment portfolio for the refineries, he said at the sideline of the 2017 Offshore Technology Conference (OTC) in Houston, Texas.

The new investors are expected to repair, revamp and maintain the refineries according to the terms and conditions of the contract, he said according to Guardian.

When completely repaired, the refineries would now satisfy the country’s consumption need, he added.
 

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