The Nigerian National Petroleum Company Limited has entered into contractual agreement with Daewoo Engineering & Construction Nigeria Limited for the repair and re-stream of the Kaduna Refinery & Petrochemical Company Limited.
The maintenance service for quick-fix repairs of KRPC is coming 15 years after the last Turn Around Maintenance on the refinery.
Chief Executive of NNPCL, Mele Kyari, said the contract which is estimated at a maximum cost ceiling of $740,669,600:00 will be executed in three work packages with duration of 21 months.
According to him, the quick-fix strategy adopted will ensure the 110,000 barrel per stream day capacity refinery operates on a sustainable basis at a minimum capacity utilization of 60 percent.
The contract signing ceremony took place at the NNPC Tower in Abuja on Thursday.