The Group Managing Director of NNPC, Maikanti Baru PHOTO: TWITTER/NNPC
The Nigerian National Petroleum Corporation (NNPC) says it has almost concluded discussion on the choice of a core investor for the proposed bio-fuel plant in Benue.
The Group Managing Director of the corporation, Dr Maikanti Baru, said this in a statement issued by Mr Ndu Ughamadu, NNPC Group General Manager Public Affairs Division in Abuja on Sunday.
Baru, after a follow-up meeting with a Benue State delegation led by Dep. Gov. Benson Abounu, said arrangements had been finalised to name the prospective investor in the weeks ahead.
Represented at the meeting by the Chief Operating Officer, Ventures Directorate, Dr Babatunde Adeniran, Baru explained that the core investor would provide 70 per cent of the required funding for the project.
According to Baru, the Benue State government and the NNPC will take up the balance equity contribution.
NNPC to select core investor for Benue bio-fuel project, says Baru
