P
ProfRem
Guest
Julius Berger Nigeria Plc stated its intention of diversifying into oil and gas industry.
This development is coming as the Federal government in September 2016 signed a $5.1 billion contract with the China Civil Engineering Construction Corporation (CCECC) for construction and rehabilitation of railway lines across the country.
They also noted that the federal government in September 2016 signed a $5.1 billion contract with the China Civil Engineering Construction Corporation (CCECC) for construction and rehabilitation of railway lines across the country.
In a notice sent to the Nigerian Stock Exchange (NSE) by the company which was signed by the company secretary, Mrs C. Madueke, stated Julius Berger Nigeria intention of going into partnership with Petralon energy an oil and gas firm with intention to develop oil fields.
The company said that it would provide further details to the capital market community as the transaction progress.
Analysts noted that for the construction firm, the move is a strategic one as competition from Chinese firms have made the construction industry less attractive.
Petralon energy began operations on its first oil field in partnership with Tako E&P Solution in 2014.
Julius Berger was established in 1950 and is one of Nigeria’s oldest construction companies.
This development is coming as the Federal government in September 2016 signed a $5.1 billion contract with the China Civil Engineering Construction Corporation (CCECC) for construction and rehabilitation of railway lines across the country.
They also noted that the federal government in September 2016 signed a $5.1 billion contract with the China Civil Engineering Construction Corporation (CCECC) for construction and rehabilitation of railway lines across the country.
In a notice sent to the Nigerian Stock Exchange (NSE) by the company which was signed by the company secretary, Mrs C. Madueke, stated Julius Berger Nigeria intention of going into partnership with Petralon energy an oil and gas firm with intention to develop oil fields.
The company said that it would provide further details to the capital market community as the transaction progress.
Analysts noted that for the construction firm, the move is a strategic one as competition from Chinese firms have made the construction industry less attractive.
Petralon energy began operations on its first oil field in partnership with Tako E&P Solution in 2014.
Julius Berger was established in 1950 and is one of Nigeria’s oldest construction companies.
