APA – Lagos (Nigeria)
The Group Chief Executive officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Malam Mele Kyari, says that the company has so far spent over 1.1 billion dollars on the ongoing construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Station project from its cash-flow.
Kyari told journalists during the tour of the pipeline project on Monday that the company would continue to fund the massive project, which it was delivering in phases and has been active even though it did not have third party finance for the project.
“So far, NNPC Ltd has funded over 1.1billion dollars on the project and to date none of the project activities is abandoned as reported and we reassure all stakeholders that we have a line of sight to project delivery on schedule.
“NNPC Limited remains highly committed towards the delivery of strategic National infrastructure projects through responsive project delivery, active collaboration with government security agencies and communities as well as deployment of technology for delivering the project.
“This is one of the most massive projects of proportion value to our country for economic growth. It is a must-deliver project and we have continued to fund in spite of not having third party finance support, we will deliver this project,” he said.
Kyari disclosed that 70 per cent of the welding work had been completed and that once welding is completed, it can actually flow gas through the pipeline.
He said that on completion the pipeline would deliver two billion cubic feet of gas, powering industries, powering power plants and creating gas based industries.
He said that the entire welding work would be completed by the third quarter of 2023 then it would actually energise the pipeline.
Kyari also said that the gas pipeline was projected to support power plants with a total of 3,645 Mega Watts, adding that it would soon begin construction of Abuja- Kaduna power plants in earnest.
GIK/APA
Nigeria’s AKK gas pipeline project gulps $1bn – NNPCL
