Hyundai to set up car plant in Nigeria

President Muhammadu Buhari on Tuesday, announced that Nigeria would collaborate with, and support Hyundai Engineering Company Limited to set up a car plant, and also rehabilitate petroleum refineries in the country.

He made the announcement when he received the President/Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, at State House, Abuja on Tuesday.

Buhari said Nigeria was committed to ensuring energy security in the country, “and the goal is to achieve self-sufficiency in the supply of petroleum products within the next three years.”

Welcoming the proposal by Hyundai to set up a car plant in the country Buhari pledged, “We will collaborate and support to make the investment a reality.”

Mr Hag Kim said Hyundai Engineering Company, which hires about 15,000 engineers and technical staff globally, was willing to contribute to the development of the Nigerian economy.

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He said, “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 would be glad to contribute our quota to Nigeria.”

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