Nigeria receives 34 expressions of interest in oil refineries

Nov 25, 2003 01:00 AM

Thirty-four firms had expressed an interest in buying Nigeria's four ailing oil refineries, due to be sold under the nation's slow-moving privatisation drive, Julius Bala, the director-general of the Bureau of Public Enterprises, said. One of the refineries, in the southern city of Port Harcourt, would be sold this year.
Bala said that by the deadline, "we received 34 expressions of interest in respect of the four refineries".

The 34 firms are interested in acquiring a 51 % equity stake in the refineries.
Nigeria also planned to sell stakes in three paper mills, five vehicle assembly plants, two fertiliser companies and the moribund Nigeria Machine Tools company before December 2005, he said.

Source: Tehran Times
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