The Nigerian National Petroleum Company Limited has struck a $741 million deal with Daewoo Engineering and Construction Company to rehabilitate an oil refinery in Kaduna State.
According to Bloomberg, NNPCL signed the maintenance service contract with the South Korean engineering firm at a ceremony held on Thursday.
In a statement issued by the company, it read, “Under the terms of the agreement, Daewoo will restore production at the inoperative 110,000 barrels-a-day facility to at least 60 per cent of its capacity by the end of 2024.
