Nigerian government set to establish car plant, petroleum refineries

Timothy Choji, Abuja

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Nigerian President, Muhammadu Buhari says Nigeria will collaborate with and support Hyundai Engineering Company Limited to set up a car plant, and also rehabilitate petroleum refineries.

 

Receiving the President/Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, at the State House, Abuja on Tuesday, the President said Nigeria was committed to ensuring energy security in the country “and the goal is to achieve self-sufficiency in the supply of petroleum products within the next three years.”

President Buhari welcomed a proposal to set up Hyundai car plant in Nigeria, pledging: “We will collaborate and support to make the investment a reality.”

Mr Hag Kim said Hyundai Engineering Company, which hires about 15,000 engineers and technical staff globally, was willing to contribute to the development of the Nigerian economy.

“We have been building refineries worldwide. We have the biggest in South Korea, with 650, 000 barrels per day capacity. We are also in Venezuela, Iraq, and many other places. We would be glad to contribute our quota in Nigeria,” he said.