GE to invest in Nigeria’s refineries

Maikanti Baru.Outgoing Group Managing Director of NNPC.

United States (US) multinational General Electric (GE) in Abuja proposed to invest in Nigeria’s three refineries located in Port Harcourt, Warri and Kaduna. The firm, in a presentation to the Nigerian National Petroleum Corporation (NNPC), Group Managing Director (GMD), Dr. Maikanti Baru and his team, said that its team of partners, including its consortium involving the Engineering, Procurement and Construction (EPC) partners, off-takers, traders and some financiers would be engaged in the initiative.

The multinational headquartered in Boston, Massachusetts, is worth $493 billion in asset. Its business focus areas include oil and gas, power, water supply, aviation, healthcare, transportation and capital. “We were involved in the tenders that started around last year, which was subsequently withdrawn, but our commitment to bringing the refineries on-stream is still very deep and we are very serious about it.

We propose that work commences either with the Warri or Port Harcourt Refinery as a pilot, as we set a target to improve the refinery capacity before the end of 2017, the company stated in its presentation.

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