FG approves $1.5bn for rehabilitation of Port Harcourt refinery

FG approves $1.5bn

The Government Official Committee on Wednesday endorsed the arrange by the Service of Petroleum Assets to restore the Harbour Harcourt Refinery with $1.5bn. The choice was taken at the week by week assembly of the committee directed over by the President, Major Common Muhammadu Buhari (retd.).

FG approves $1.5bn

The Serve of State for Petroleum Assets, Timipre Sylva, uncovered this to State House journalists at the conclusion of the assembly at the Presidential Estate, Abuja. The serve said, “The Service of Petroleum Assets displayed a reminder on the recovery of Harbour Harcourt refinery for the whole of $1.5bn, which notice was $1.5 billion and it was endorsed by board today.

“So, we are cheerful to report that the restoration of the refinery will commence in three stages. The primary stage is to be completed in 18 months, which can take the refinery to a generation of 90 percent of its nameplate capacity.

“The moment stage is to be completed in 24 months and all the ultimate organize will be completed in 44 months and interviews are approved. “And I believe that this is often great news for Nigeria.”

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