Hyundai verge setting up car plant in Nigeria

Hyundai Engineering Company Limited said on Tuesday that it was on the verge of setting up a car plant in Nigeria.

The South Korean firm also said it would invest in the rehabilitation of the country’ s petroleum refineries .

President/ Chief Executive Officer of Hyundai Engineering , Mr Chang Hag Kim , stated these during a visit to the President , Major General Muhammadu Buhari (retd . ) , at the State House , Abuja.

Buhari , while welcoming the proposal, promised that the Federal Government would give the appropriate support to the firm to bring its plan to fruition .

He also informed the CEO that Nigeria was focused on achieving energy security for the country, adding that “ the goal is to achieve self -sufficiency in the supply of petroleum products within the next three years. ”

A statement by his media aide , Mr Femi Adesina , after the meeting , quoted Buhari as saying , “We will collaborate and support to make the investment a reality . ”

Founded in 1967, the 51 – year -old Hyundai has over 15, 000 engineers and technical staff around the world .

Hag Kim told Buhari that his firm was ready to invest in 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 will be glad to contribute our quota in Nigeria , ” the CEO stated.

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