ADVERTISEMENT

Baru meets Ajaokuta-Kano pipeline project financiers in Dubai

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru  has directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project financing agreement.

ADVERTISEMENT

The Chinese consortium is made up of Bank of China and Sinosure.

A statement by NNPC spokesman Ndu Ughamadu said the GMD who had to cut short his holy pilgrimage trip to Saudi Arabia for a stop-over in Dubai, United Arab Emirates reiterated the need for both parties to ensure speedy conclusion on the details of the agreement towards its full execution during Mr. President’s state visit to China next month.

ADVERTISEMENT

President Muhammadu Buhari is scheduled to attend the Forum of China-Africa Cooperation (FOCAC) Summit holding from the 1st to 4th September, 2018 in the Chinese capital, Beijing. The AKK Project will be top on Mr. President’s agenda.

The NNPC had earlier clarified that the execution of the AKK gas pipeline project was progressing under the original concept of 100 percent contractor financing model contrary to some media reports of a possible resort to ‘’proceed of gas tariffs’’ as new means of funding because of purported collapse of negotiation with Chinese lenders.

The Corporation noted that the successful conclusion of the contractor financing terms would pave way for the historic ground-breaking ceremony which would take place after the conclusion of the front-end activities.
 

Sharing

BREAKTHROUGH NATURAL CURE FOR PROSTATE ISSUES IN JUST 15 DAYS!!! You Can Prevent PROSTATE CANCER!!!

Your PROSTATE ENLARGEMENT Is REVERSIBLE!!! Don't Let It Threaten You!

To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!!

Join us on


Send DTM to 4900 (MTN) or DTM to 655 (Etisalat) for regular updates and more

Share your story with us: 08189301900 (Whatsapp and SMS only) Email: dtonline@dailytrust.com Or use this form

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.