The Nigerian National Petroleum Corporation (NNPC) has signed an Engineering, Procurement & Construction (EPC) contract with Tecnimont SpA for the rehabilitation of Port Harcourt Refining Company.
NNPC says via Twitter handle that the signing ceremony took place on Tuesday.
“Signing Ceremony of Engineering, Procurement & Construction (EPC) Contract for the Rehabilitation of Port Harcourt Refining Company (#PHRC) between @NNPCgroup and Tecnimont SpA” it tweeted.
It said Ahmed Dikko, managing director of Port Harcourt refinery company (PHRC), signed for the refinery, while Davide Pellizola, signed for the Tecnimont SpA, contractor for the project.
21st Century Chronicle reports that in December, NNPC opened a bid round for a contract to rehabilitate the Port Harcourt complex. NNPC said private companies would run the refineries once they were rehabilitated.
The Cairo-based Afreximbank was to lead the financing of the project, while discussions took place with a range of foreign and Nigerian trading houses, including some who have previously worked with Nigeria.
In March, the Federal Executive Council (FEC) approved the sum of $1.5 billion for the rehabilitation of the refinery amidst outcry from Nigerians.
