The repair, which will be executed by Tecnimont SPA, an Italian company, will be done in three phases of 18, 24 and 44 months.
On Thursday, Mele Kyari, NNPC group managing director, and officials of Tecnimont SPA attended a kick off meeting on the rehabilitation of Port Harcourt Refinery Company (PHRC).
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The meeting signified the take off of the rehabilitation project which will be funded through internally generated revenue (IGR), Afreximbank and budgetary provisions.
The PHRC operates two refineries; the old refinery with a capacity of 60,000 barrels per stream day (bpsd) and new refinery with an installed capacity of 150,000 bpsd.
The two refineries bring the Port Harcourt refinery’s combined crude processing capacity to 210,000bpsd.
The Nigerian National Petroleum Corporation (NNPC) will award contracts for the rehabilitation of Kaduna and Warri refineries at the end of June.
The Group Managing Director, NNPC, Malam Mele Kyari, made this known today in Abuja at the signing of the $1.5 billion contract for the rehabilitation of the Port Harcourt Refinery Company (PHRC).
He said the process of selection of contractors for Kaduna and Warri was ongoing.
Today’s signing was with Maire Tecnimont SPA, an Italian Company.
He said the contractor was selected with high level of transparency.
Maire Tecnimont S.p.A. is an Italian group comprising 50 companies in the engineering, technology and energy sectors.
The Nigerian National Petroleum Corporation (NNPC) has signed a contract with a Milan based company, Tecnimont SpA for the rehabilitation of the 210,000 barrels per day Port Harcourt Refinery Company (PHRC) in Alesa-Eleme, Rivers state.
Recall that the Federal Executive Council (FEC) recently approved the sum of $1.5 billion (about N570 billion) for the project which has a completion timeline of between 18 and 44 months under a three-phase arrangement.
Speaking during the Engineering, Procurement and Construction (EPC) contract signing ceremony on Tuesday, the Group Managing Director of NNPC, Mallam Mele Kyari said, “Mr President promised Nigerians he will fix the refineries.”
He assured that the same transparent process has been emplaced for the rehabilitation of the Warri and Kaduna Refineries whose EPCIC contracts would be awarded in June 2021.
Italy’s Maire Tecnimont has secured a $1.5bn EPC contract from the Nigerian National Petroleum Company (NNPC).
The contract is for the rehabilitation works of the Port Harcourt Refinery Complex.
The refinery, which was closed two years ago, is owned and operated by Port Harcourt Refinery Company, a subsidiary of NNPC.
Under the contract, Maire Tecnimont subsidiary Tecnimont will undertake EPC activities for a full rehabilitation work to restore at least 90% of the Port Harcourt refinery complex’s nameplate capacity.
Maire Tecnimont Group CEO Pierroberto Folgiero said: “With this great result we confirm the soundness of our business strategy on geography diversification, as one of its key elements is to grow and assist our clients in their revamping initiatives, leveraging on our technological know-how to ensure more efficient and environmentally better performing processes and products.
Despite Outrage, NNPC Signs N570 Billion Contract To Repair Port Harcourt Refinery
The Federal Executive Council had earlier approved the sum of $1.5 billion (about N570 billion) for the project which has a completion timeline of between 18 and 44 months under a three-phase arrangement.
by SaharaReporters, New York
Apr 07, 2021
The Nigerian National Petroleum Corporation has signed a contract with a Milan-based company, Tecnimont SpA, for the rehabilitation of Port Harcourt Refinery Company in Alesa-Eleme, Rivers state.
The Federal Executive Council had earlier approved the sum of $1.5 billion (about N570 billion) for the project which has a completion timeline of between 18 and 44 months under a three-phase arrangement.