NNPC signs $1.5 billion contract for rehabilitation of PH refinery

NNPC signs $1.5 billion contract for rehabilitation of PH refinery
NNPC signs $1.5 billion contract for rehabilitation of PH refinery

The drive by the Management of the Nigerian National Petroleum Corporation (NNPC) to spice up in-country refining capacity was bolstered on Tuesday with the signing of the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract for the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery in Alesa-Eleme, Rivers State.

The rehabilitation project which features a completion timeline of between 18 and 44 months under a three-phase arrangement was awarded to Milan based Tecnimont SpA at a payment contract price of US$1.5 billion, inclusive of VAT and other statutory payments.

An elated Group director of the NNPC, Mallam Mele Kyari, described the PHRC rehabilitation project as a dream come true, noting that the project was in line with President Muhammadu Buhari’s promise to the Nigerian people to form the refineries work.

READ  Imo: Police arrest suspects for planting human head in water tank

Mallam Kyari reiterated that in arriving at the selection of Tecnimont SpA, the Corporation began a transparent tender process that may withstand any forensic audit, noting that NNPC was ready and hospitable to answer any question concerning the project.

He assured that an equivalent transparent process has been emplaced for the rehabilitation of the Warri and Kaduna Refineries whose EPCIC contracts would be awarded in June 2021.

READ  How FBI Warned FG, CBN On Scammers using Cryptocurrencies To Defraud The West

The GMD explained that the rehabilitation exercise was very different from a routine Turn-Around Maintenance because it would entail a complete retrofitting of the plant with major part and equipment replaced with new ones.
Providing further insight into the project, director of Port Harcourt Refining Company Limited, Engr. Ahmed Dikko, explained that Phases 1 and a couple of of the project would get the refinery able to receive hydrocarbon, while Phase 3 will specialize in the start-up the refinery for operation, stressing that the whole work shall be delivered in 44 months from today.

READ  How An Igbo Man Proposed To His Wife

In his remarks, vice chairman, Sub-Saharan Africa Region of Tecnimont SpA, Davide Pelizzola, pledged the readiness of his company to figure assiduously with the NNPC to suits the terms and obligations of the contract.

The signing ceremony of the PHRC rehabilitation project was witnessed by the Nigeria Extractive Industries Transparency Initiative (NEITI), Infrastructure Concession Regulatory Commission (ICRC), Petroleum and gas Senior Staff Association of Nigeria (PENGASSAN), and therefore the Nigeria Union of Petroleum and Gas Workers NUPENG amongst others.

Upload Your Song