Contrary to earlier completion time of 44 months, the Nigerian National Petroleum Corporation (NNPC) has officially signed the contract with Tecnimont SPA for the $1.5bn rehabilitation programme of the Port Harcourt Refining Company, saying it will only take 18 months.
Parties in the agreement also announced the commencement of the project following the signing of the contract at the headquarters of the corporation in Abuja. At the virtual contract signing event, the Group Managing Director, NNPC, Mele Kyari, explained that the agreement was basically between PHRC and Tecnimont SPA. He said the contract was for the provision of engineering, procurement, construction, installation and commissioning services for the refinery rehabilitation project.
The Managing Director, PHRC, Ahmed Dikko, signed for the refinery, while a representative of Tecnimont SpA, Davide Pellizola, signed for the Italian engineering firm. Last month, the Federal Executive Council approved $1.5bn for the revamp of PHRC, a development that generated diverse reactions. The government targets to complete the first phase of the rehabilitation in 18 months and hopes that this will take the refinery to a production of 90 per cent of its nameplate capacity.
