The Nigerian National Petroleum Company Limited has signed a Letter of Intent Agreement with Daewoo E & C of South Korea for the rehabilitation of the Kaduna Refinery on Thursday 27th Oct 2022.

President Buhari witnesses the Signing Ceremony of the LOI Agreement between Daewoo and NNPC in Seoul, South Korea, on 27th Oct 2022. On stage is Chairman Daewoo E & C Mr. Won Ju Jung, CEO Daewoo E & C Mr. Jungwan Baek, GCEO NNPC Mele Kyari and Minister of State Petroleum Timpre Sylva.

According to the statement, President Muhammadu Buhari, who witnessed the signing ceremony, was excited as it came against the back of ongoing rehabilitation work at Warri refinery.

“Daewoo Group has massive investments in the automobile, maritime and other sectors of our economy,” Adesina quoted President Buhari as saying.

“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.”

The president said he looks “forward to the delivery of ongoing projects, especially at the Warri and Kaduna refineries, and the NLNG Train Seven”.

“This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria,” The President said.

Order of photograph: President Buhari with L-R: COO Daewoo E & C Seung-II Cho, President & CEO Daewoo E&C Mr. Jungwan Baek, Chairman Daewoo Mr. Won Ju Jung, Nigerian Ambassador to South Korea Amb. Ali Magashi, Minister of State Petroleum Timpre Sylva, and GCEO NNPC Mele Kyari shortly before the Signing Ceremony of the LOI Agreement between Daewoo and NNPC in Seoul, South Korea on 27th Oct 2022.