Tanko Mohammed<\/p>\n\n\n
The Nigerian National Petroleum Corporation (NNPC) has signed a contract with Maire Tecnimont SPA, an Italian Company, for the rehabilitation of the Port Harcourt Refinery Company (PHRC).<\/p>\n\n\n
The Group Managing Director, NNPC, Malam Mele Kyari, at the signing of the Contract in Abuja, on Tuesday said the contractor was selected with high level of transparency.<\/p>\n\n\n
Maire Tecnimont S.p.A. is an Italian group comprising 50 companies in the engineering, technology and energy sectors.<\/p>\n\n\n
It deals in plant engineering in oil and gas, chemicals and petrochemicals, in green chemistry and in technology supporting energy transition.<\/p>\n\n\n
\u201cMy Colleagues and I are very proud of what is happening today, a tender process which cumulated in this event of today, the signing of contract for the rehabilitation of Port Harcourt Refinery.<\/p>\n\n\n
\u201cThis is a monumental history for us,\u201d he said.<\/p>\n\n\n
He said the corporation was aware of misgiving in the public on the cost of rehabilitation of the refinery but noted that the NNPC would maintain high level of transparency in the process of carrying out the work.<\/p>\n\n\n
He said government had admitted the fact it made a lot of mistakes with the Turnaround Maintenance (TAM) of the refineries over the years.<\/p>\n\n\n
He explained that NNPC selected the contractor through transparent Engineering, Procurement and Construction (EPC) process and also by the recommendation of the original builders of the refinery.<\/p>\n\n\n
\u201cWe have decided to pick up our pieces and follow the EPC contract process. This is probably the most transparent EPC that anyone can put on the table.<\/p>\n\n\n
\u201cThis is because we even involved those that ought not to be in the process for transparency sake.<\/p>\n\n\n
\u201cThis moment, we are happy to deliver on this, happy that Mr President will be able to meet his promises to Nigerians,\u201d he said.<\/p>\n\n\n
Commenting on the cost, Kyari said the 1.5 billion dollars earlier reported in the media was the actual cost of the work inclusive of Value Added tax (VAT).<\/p>\n\n\n
\u201cFor avoidance of doubts, the figure you see in the media included VAT, we have disclosed everything that it will cost in the rehabilitation of the refinery.<\/p>\n\n\n
\u201cActual cost exclusive of VAT is 1.299 billion dollars with provisional sum of 162 billion dollars.<\/p>\n\n\n
\u201cThat is the value of the contract. What you see in the Media is around 1.5 billion dollars because we are a very compliant company, we included everything that is needed that people should know. We are also proud of this,\u2019\u2019 he said.<\/p>\n\n\n
The GMD further noted that the rehabilitation would involve replacement, upgrade and change of obsolete parts of the refinery.<\/p>\n\n\n
He said the books of NNPC would be open for any public audit during and after the work was completed.<\/p>\n\n\n
He said that the award of the contracts for the rehabilitation of the Kaduna and Warri refineries would be by the end of June as the process of selection was ongoing.<\/p>\n\n\n
He commended all stakeholders for the support and assured that the project would be delivered at the agreed cost and time.<\/p>\n\n\n
He charged the contractor to be mindful of the fact that the project was a national project and should hand over any person that perpetuates any fraudulent act to the government.<\/p>\n\n\n
In his remarks, the Managing Director of the PHRC, Ahmed Dikko, commended the NNPC for its effort in ensuring that the contract was signed.<\/p>\n\n\n
He said the development was a dream come true, and the result of conscious efforts and dedication of the federal government and NNPC.<\/p>\n\n\n
He said the scope of the business for the selected contractor was engineering, procurement, construction and installation of works of the rehabilitation of the Refinery.<\/p>\n\n\n
\u201cThe lump sum price of this contract is 1,397 billion dollars which included VAT. The provision sum approved is 162,239 million dollars.<\/p>\n\n\n
\u201cThe mode of payment for the contract will be through an escrow account which will be established within the next two months maximum.<\/p>\n\n\n
\u201cThe commencement period of this programme is today after the signing,\u201d he said.<\/p>\n\n\n
He added that the maximum time of completion of the project would be 44 months, but the phase one would finish within 24 months while phase 2, 32 months and last phase 44 months.<\/p>\n\n\n
Responding, the Managing Director of Maire Tecnimont SpA, Davide Pelizzola, said the contract would deepen the relationship between the company and Nigeria.<\/p>\n\n\n
He assured that it would be committed to ensure that the rehabilitation project would be completed at the estimated time.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
Tanko Mohammed The Nigerian National Petroleum Corporation (NNPC) has signed a contract with Maire Tecnimont SPA, an Italian Company, for the rehabilitation of the Port Harcourt Refinery Company (PHRC). The Group Managing Director, NNPC, Malam Mele Kyari, at the signing of the Contract in Abuja, on Tuesday said the contractor was selected with high level […]<\/p>\n","protected":false},"author":1,"featured_media":5425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[291],"class_list":["post-29444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-refinery","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n