Nigerian President welcomes Hyundai’s proposal to set up automobile factory


Nigeria’s President, Muhammadu Buhari has welcomed the proposal of Hyundai Engineering Company Limited to set up a car factory and rehabilitate petroleum refineries in the country.

The President stated this when he received the Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, at State House, Abuja, on Tuesday.

He said that 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.”

“We will collaborate and support you to make the investment a reality,” he stated

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 added.

Peace PIAK