South Korean Motor Company, Hyundai Motors has on Tuesday, 17th December 2019 announced that it has concluded plans to set up a car plant in Nigeria. Mr. Chang Hag Kim, the President/CEO of Hyundai Engineering made the announcement when he visited President Muhammadu Buhari, at the State House, Abuja.
Kim added that the company is ready to invest in the revamping of the country's petroleum refineries and in developing the Nigerian economy. In his words “We have been building refineries worldwide..."
The Hyundai CEO was quoted saying “We have the biggest refinery in South Korea, with 650, 000 barrels per day capacity. We are also in Venezuela, Iraq, and many other places. We will be glad to contribute our quota in Nigeria...,” Mr. Kim stated.
In his response, President Muhammadu Buhari assured Kim of the Government's complete support. He stressed that "the goal is to achieve self-sufficiency in the supply of petroleum products within the next three years..."
He informed that the Federal Government aims at achieving energy security. The goal is to achieve self-sufficiency in the supply of petroleum products within the next three years,” Buhari added.
